Mortgage rates for JP Morgan Chase have seen a slight increase as April begins. Over the last few months, mortgage lenders like JP Morgan Chase have been seeing interest rates on mortgages as low as 4.75%, but with the Federal Reserve no longer buying mortgage backed securities, rates are increasing to around 5% or higher.
However, those who are still looking to refinance or buy a home and wish to get a great interest rate on their mortgage still can, as 5% is still a lower rate than many homeowners have at the current time.
While there is no certainty how much longer interest rates will rise or how high they will go, those who are financially able are looking to get a great rate on their home loan in the hopes that a lower mortgage payment will come with a low rate.
If you are looking into buying a home or refinancing your mortgage for a lower rate, you may want to look into your options now in case interest rates go higher. However, before buying or refinancing, be sure you are in the financial position to do so as owning a home is a big responsibility and refinancing can be costly.