Mortgage rates remain steady since the release of August employment figures. Amid the latest round of Fed speaker talks of rate increases, the anticipation is one increase of a 0.25% for the remainder of 2016. Last increase was in December 2015.
Fixed vs Adjustable (ARM) mortgage – Because of the lower initial rate on ARM, the savings could be significant. Also due to the rate cap, ARM isn’t as scary as many think in a rising interest rate environment.