Msg. 57103 of 65535 (This msg. is a reply to
57074 by
killthecat)
Jump:
We have a variable rate mortgage and at the moment if it were to adjust today, the interest rate for the next year you be 2.875% (It's currently 3.125%). Actually the rate is adjusted based on the Libor rate around the 20th of January each year, effective with my April payment, so I have a few months before it actually resets so who knows, it could go down even more
Mortgage rates reached a two-year high in August and remained elevated in September. But they have fallen in the past month, which could help boost contract signings in October. The average rate for a 30-year mortgage was 4.13 percent last week, according to mortgage buyer Freddie Mac.
Home prices, meanwhile, jumped 12.4 percent in August compared with a year earlier, according to real estate data provider CoreLogic. That's near the fastest pace in seven years.
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