Today many of the top mortgage servicers are offering historically low rates for the most common mortgage products on the market.
The average rate for a thirty-year fixed rate mortgage is at 4.65%, this is down from 4.75% yesterday, and 5.29% this time last year.
Wells Fargo along with other major mortgage servicers are offering interest rates for a fifteen-year fixed rate mortgage as low as 3.875%. Around the same time last year the average rate for this type of mortgage stood at 4.89%.
The rates being offered today are the lowest they have been for a very long time and any qualified buyer should have no problem securing a great rate. Please keep in mind that interest rates are supposed to rise a significant amount over the next year, so anyone looking to make a purchase or refinance their current mortgage may want to do so before they are no longer available.
30-Yr Fixed 4.625%
30-Yr Fixed FHA 4.625%
15-Yr Fixed 3.875%
5-Yr ARM 3.250%
5-Yr ARM FHA 3.250%
Jumbo mortgage:
30-Yr Fixed 5.500%
5-Yr ARM 4.250%
About Evan Bedard
