Good news for those looking to buy a house soon- mortgage rates have sunk since the end of August 2015. According to this article by Amber Nelson at the Mortage 101 Blog:
During the week ended August 27, 2015, the average rate on a 30-year fixed rate mortgage (FRM) sank to 3.84 percent, excluding fees, down from 3.93 percent the previous week and down from 4.10 percent the year before.
They speculate that this decline may have to do with events of “economic chaos” in China, and that it could continue to stay at this rate, or possibly decrease even further. Home buyers, keep an eye out, and don’t be afraid to ask for a new quote each day, since rates fluctuate so quickly! Don’t forget to lock in a low rate while you can!