Mortgage Rates Today, Friday, Oct. 7: Little Change, Rents in West to Surge

Mortgage rates for 30- and 15-year fixed loans didn’t budge at all, while 5/1 ARM ratessaw a tiny dip, according to a NerdWallet survey of mortgage rates published by national lenders Friday.

Mortgage Rates Today,
Friday, Oct. 7

(Change from 10/6)
30-year fixed: 3.65% APR (NC)
15-year fixed: 3.07% APR (NC)
5/1 ARM: 3.58% APR (-0.01)

Rents in the West among fastest-growing in U.S.

Brace yourselves (and your wallets), West Coast dwellers: Your rents are expected torise the fastest in the country over the next year, according to a new report. Many ofthose burgeoning increases are forecast incities where tech jobs reignsupreme.

Rents in Seattle and Portlandwill likely rise the fastest, according to the Zillow Rent ForecastforAugust 2016 to August 2017, which predicts rent trendsacross the nation. Rentgrowth is expected sooner rather than later in theselarge metros:

– Seattle,7.2%
– Portland,Oregon, 6.0%
– Denver,5.9%
– Cincinnati,5.2%
– San Francisco,4.9%
– Los Angeles,4.8%
– Sacramento, California,4.7%
– San Diego, 4.7%
– Phoenix,4.6%
– San Jose,California, 4.5%
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Homeowners looking to lower their mortgage rate can shop for refinance lenders here.

NerdWallet daily mortgage rates are an average of the published APR with the lowest points for each loan term offeredby a sampling of major national lenders. Annual percentage rate quotes reflect an interest rate plus points, fees and other expenses, providingthe most accurate view of the costsa borrower might pay.

Deborah Kearnsis a staff writer at NerdWallet, a personal finance website. Email: dkearns@nerdwallet.com. Twitter: @debbie_kearns.

The article Mortgage Rates Today, Friday, Oct. 7: Little Change, Rents in West to Surge originally appeared on NerdWallet.