MEI Appraisal Company, LLC - Mortgage Rates and Calculator

MEI Appraisal is a member in good standing with the American Society of Appraisers (ASA).  The ASA and its members keep current of all the associated news and events within the profession.  Below are the recent interest rates along with a simple mortgage calculator for your convienience.

Recent Mortgage Rate Feed

Fri, 07 Aug 2020 22:24:00 GMT
mortgage rates, interest rates, bond markets
The Rate Also Rises

Years from now when scientists examine mortgage rates in July 2020, they'd be forgiven for coming to the conclusion that rates only ever move lower. As we've learned in the first week of August, rates also rise. 

To be fair, there were a few days in July where more than a few lenders moved slightly higher in rate, but it really wasn't until this week that we arguably saw a shift in the broader trend--or at least warning signs about a potential shift.

What does that mean, exactly?

It might not mean much at all, depending on where we go from here.  Over longer time horizons, it's entirely possible that rates return to recent record lows.  This week's upward movement serves as more of a warning about complacency and about being ready to lock if you happen to have a loan in process.

...(read more)

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Mortgage Calculator

Sales Price: $
Down: %
Interest Rate: %
Term: yrs
Monthly payment: $

Example Rates

Mtg Loan    Rate  
30-yr Fixed 4.00%
15-yr Fixed 3.25%
5-yr Adj 2.625%
* see listing to the left for the latest rates