Mortgage Rates 12-17-15

By Lisa Robison Updated on 12/17/2015

Mortgage rates actually went down yesterday, even with the Fed hike.  The reason for this is that the rate hike has to do with the Federal Reserve's Target Rate.  This rate is what other banks get charged to borrow money.  This Federal rate is important when we are talking about a global financial system.  This rate will affect some financial institutions more than others.  The Fed meetings only occur eight times per year, while, as we know, mortgage rates are free to fluctuate in a range higher or lower at any given time.  Many other factors have an impact on the mortgage rates other than the Federal Target Rate.  Most rates being offered today are in the 4.0% to 1.125% range for 30 year fixed top tier scenarios.  FHA and VA Rates being offered are in the 3.75% range, 15 year fixed rates are anywhere between 2.75 and 3.25%.  Check back tomorrow to see what mortgage rates do next.         

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• 30 year (FRM) rates at 4.06% (-0.02%).
• 15 year (FRM) rates at 3.29% (-0.01%).
• FHA 30 year Fixed rates at 3.75% (0.00%).
• Jumbo 30 year Fixed rates at 3.90% (-0.01%).
• 5/1 ARM rates at 2.97% (-0.03%).