Mortgage Rates Starting to Climb - August 2012 - Boise Idaho Real Estate 

After unprecedented months of lower-than-low mortgage interest rates, Freddie Mac reports a climb in the interest rates this week.  Up 0.6 from last week, the fixed rate 30-year mortgage interest rate topped out this week at 3.59 percent.  However, last year at this time, the 30 year fixed rate was still hovering at 4.32 percent indicating the still overall low interest rates available to homeowners and homebuyers right now.

Freddie Mac attributes the raise in the interest rate to “stronger than expected employment records.”  What does this mean to the homebuyers and homeowners? It means that if you are hoping to refinance or purchase a house, you may want to consider locking in your rates before they go up again, something that is anticipated as unemployment rates continue to drop.

Fifteen-year fixed rates also climbed slightly to 2.84 percent, up 0.6 percent from last week. The 5-year ARM interest rate also climbed 0.6 percent to 2.77 percent.  Both of these are still well below their rates at this time last year; however, Freddie Mac is anticipating a continued climb in interest rates as a whole. Read Freddie Mac’s report for more details on this week’s interest rate changes.

Here are a few listings in Boise, Idaho from $125,000 to $145,000 provided by IDX/IMLS.