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30-Year Fixed Mortgage Rate Continues to Rise

Posted by Brian Tresidder on Saturday, October 13th, 2012 at 12:06pm.

Sarasota Interest Rates

This week mortgage rates rose again. For homeowners looking for a 30 year fixed rate they can expect a 3.39 rate. This is up from a week ago. It seems that rates seem to be staying right between 3.19 and 3.39 percent. This information is being quoted by the Zillow Mortgage Marketplace.

The reason for the slight rise in rates may be linked to the fact that the Federal Open Market Committee announced a job report that was stronger than was expected. So while rates seem to fluctuate back and forth, for the most part, they remain steady and are expected to stay in this pattern in the near future. Bright information concerning the job market is not expected. This continues to be good news for the new homeowner.

And for those looking for a shorter loan the rates are even better. The 15 year fixed mortgage was down to 2.63. If one chooses a 5/1 ARM the rate is as low as 2.52 percent. When looking for a mortgage rate Zillow is a great place to find the most up to date current information.

If you would like more information on current interest rates for your Sarasota Real Estate purchase, please check out our financing section or feel free to call us.

Brian Tresidder | Siesta Key Real Estate Broker

Key Solutions Real Estate

Brian is a licensed real estate broker serving Siesta Key, FL and beyond. From finding the perfect vacation home to helping investors reach their full potential, Brian takes a professional and personalized approach to every situation. 

Phone: (941) 894-1255

Learn More About Brian Now!

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