Mortgage Rates 10-25-17

By Joy Green Updated on 10/25/2017

As we have continued to notice, the cost of rent is skyrocketing right along with the price of homes. The average rent for a 2-bedroom apartment in Cupertino California is $3,495. To put this in perspective, while home values have gone up 6.9% over the past year, still the median price for a home in the United States is only $201,900. Freddie Mac released new research today that indicates affordability and changing attitudes towards renting are key factors as to the rising demand for home rentals, which almost doesn’t seem right considering statistics in California alone. Still, as the survey report there is an overwhelming increase in renters who consider renting as a lifestyle option. The survey also mimics the fact there has been a rise in the price of homes and cost of rent, with 57% of renters believing this to be the case and 56% seeing rents rising as well. Things are sure to get more interesting as we await the election of the next Fed Chairman.

Bookmark this page for mortgage rates:

• 30 year (FRM) rates at 4.02% (+0.04%)
• 15 year (FRM) rates at 3.31% (+0.03%)
• FHA 30 year Fixed rates at 3.65% (+0.05%)
• Jumbo 30 year Fixed rates at 4.20% (+0.03%)
• 5/1 ARM rates at 3.24% (+0.03%)

• 30 year (FRM) rates at 4.02% (+0.04%).
• 15 year (FRM) rates at 3.31% (+0.03%).
• FHA 30 year Fixed rates at 3.65% (+0.05%).
• Jumbo 30 year Fixed rates at 4.20% (-0.03%).
• 5/1 ARM rates at 3.24% (+0.03%).