Multiple closely watched mortgage rates trended down today. The average rates on 30-year fixed and 15-year fixed mortgages both trended down. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, ticked up.

Mortgage rates are in a constant state of flux, but they continue to represent a bargain compared to rates before the Great Recession. If you’re in the market for a mortgage, it could make sense to lock if you see a rate you like. Just make sure you shop around first.

Multiple closely watched mortgage rates trended down today. The average rates on 30-year fixed and 15-year fixed mortgages both trended down. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, ticked up.

Mortgage rates are in a constant state of flux, but they continue to represent a bargain compared to rates before the Great Recession. If you’re in the market for a mortgage, it could make sense to lock if you see a rate you like. Just make sure you shop around first.

source”indiatoday”