Interest Rate Update - March 21, 2016

Interest Rate Update Interest rates are still looking good. Even with the .25% hike in the Federal Funds Rate long term interest rates remain at historic lows.


30 Year Fixed up to $417,000 3.50% to 3.75%
30 Year Fixed “Agency” up to $625,500 3.625% to 3.875%
30 Year Fixed FHA up to $417,000 3.25% to 3.50%
30 Year Fixed FHA “Jumbo” up to $729,500 3.25% to 3.50%

Update From Fannie Mae Here is what Fannie Mae is saying, “A less optimistic outlook for future wage gains coupled with continued strong home price appreciation booted by lean inventory, is adding to the housing affordability challenge. Our latest home purchase sentiment index shows that high home prices are a top reason for consumer’s perception that it is a bad time to buy a home. However, low mortgage rates should help support moderate housing expansion as we move through the year”.
How Does This Affect You ? In a nutshell Fannie Mae is saying that home prices should moderate and the low interest rate environment will keep people buying homes. Remember also that Fannie Mae is talking on a nationwide stage. Here in Southern California the housing industry tends to do better than other areas. So spread the word that rates are still at historic levels and property is still moving.