What a great time to sell and/or buy since you can lock in a low rate right now. This WaPo article gives you the details about the fixed and adjustable rates and this data points to why the market is so hot right now. 

 

“This is good news for buyers, particularly when you compare rates to a year ago,” said Danielle Hale, chief economist for Realtor.com. “Based on a typical listing of $316,000 with a 20 percent down payment, buyers today would pay $112 less for their principal and interest than they did a year ago.”

 

https://www.washingtonpost.com/business/2019/07/25/mortgage-rates-fall-reaching-near-three-years-lows/?utm_term=.15b919574094