Mortgage rates continue to remain at very attractive levels as the average rate for a thirty-year fixed home loan remains at 4.75% today, unchanged from yesterday. With mortgage rates this low it comes as no surprise why so many people are looking to refinance their current mortgage. New home loan applications are also still up, despite the ending of the popular home-buyer tax credit.
You will find that many of America’s leading lending institutions including Wells Fargo and Bank of America offering rates this low to qualified home buyers. Please do some research if you are looking to make a purchase because some lenders may even drop the interest rate a point or two. Always remember to shop around for the best deal possible before locking in a new mortgage.
Below are common mortgage types and the average rates many of America’s leading mortgage servicers are offering today:
30-Yr Fixed 4.750%
30-Yr Fixed FHA 4.750%
15-Yr Fixed 4.000%
5-Yr ARM 3.500%
5-Yr ARM FHA 3.250%
Jumbo Loans:
30-Yr Fixed 5.500%
5-Yr ARM 4.625%
