Mortgage rates fall in late February 2017

Mortgage rates have been on a 2017 roller-coaster ride – rising on news of stimulus, inflation, and an aggressive Fed, then falling in the face of renewed uncertainty about the direction the economy will take. In the next to last week of February, they retreated.

According to Bankrate's weekly national survey, the benchmark 30-year fixed mortgage rate fell to 4.29 percent last week – Feb. 20-24 – from 4.35 percent the week before.

As stated on Bankrate’s website: “The larger jumbo 30-year fixed fell to 4.28 percent, while the average 15-year fixed mortgage rate eased to 3.48 percent. Adjustable mortgage rates also moved lower, with the five-year ARM sinking to 3.45 percent and the seven-year ARM dropping to 3.68 percent.”

Owning a home can be one of the best investments you make in your life. In addition to owning a piece of property you can call your own, interest paid on the mortgage is tax deductible, you will build equity each month and history has shown the value of your home is likely to go up over time. Instead of digging into a renter’s rut, invest into a piece of property that will be yours for a long time.

Although mortgage rates often change daily, now is the time to take advantage of great rates with a mortgage or refinance through Travis Credit Union’s Real Estate department! Have you seen our rates for today? Visit our website, stop by a branch or contact our Real Estate department at (888) 698-0000 for more help today.

Mortgages Branch Locations