HK  Beijing Shanghai  Canton  Shenzhen   Xiamen   Hangzhou   Shenyang   Chengdu   Dalian   Zhengzhou  

Share on WeChat Moments

tart  WeChat, click “Discover”on the bottom,
Scan QR Code to share the webside.

Free Hotline:4008-303-103
HK Headquarter:00852-2868-9200

Adjustable Mortgages Impacted by Rate Hike

Share to :
2017-03-17

After the Fed's decision on Wednesday to up its benchmark rate by 0.25%, some banks have already followed suit by increasing their prime rates. Prime rates are what banks charge their most creditworthy customers.

Prime is a benchmark that, along with the London Interbank Offer Rate (LIBOR), is often used to price adjustable-rate mortgages. As prime and LIBOR rates increase, ARMs will continue to be impacted. Not surprisingly, LIBOR rates also inched up this week. The result was that ARM rates increased compared to yesterday, though fixed rates all eased.

For those shopping for homes, here are today's average mortgage rates across the U.S., along with where they stood last month.


For comparison's sake here are a few of the national average mortgage rates from five years ago.

For existing homeowners who are shopping for a home equity line of credit (HELOC) or equity loan, today offers another bit of good news: Both HELOC rates and equity loans showed little change at 5.14% and 5.20%, respectively, remaining below last month's respective rates of 5.28% and 5.26%.

5 Simple Tips to Skyrocket Your Credit Score Over 800!
Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they’re members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You’ll find a full rundown of each inside our FREE credit score guide. It’s time to put your financial future first and secure a lifetime of savings by increasing your credit score.