Mortgage rates dropped again today, bringing several lenders down to a 3.25% rate for a 30 year fixed conventional loan. The last times rates hovered around this number was back in late 2012. We are on a current run of 7 days, and rates may go lower, but not without some ensuing bounces afterwards. With home appreciation slowing, it is a good time to buy. The main factors in the current state of rates continue to be a general slowing of the global economy. Domestic reports make a minor difference, but long term considerations are centered around the big picture. Check back here tomorrow to get the most up-to-date mortgage rates and news.
Bookmark this page for daily mortgage updates:
• 30 year (FRM) rates at 3.37% (-0.03%).
• 15 year (FRM) rates at 2.72% (-0.02%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.45% (-0.02%).
• 5/1 ARM rates at 2.84% (+0.03%).
Didn't find the answer you wanted? Ask one of your own.