Current mortgage rates are still near all time lows at the nation’s top lenders for this Thursday morning. Freddie Mac released its weekly mortgage survey today, showing rates at new 2016 lows for the week ending July 7, 2016 in the wake of the Brexit vote.
Freddie reported the 30-year fixed mortgage averaged 3.41% this week, down from last week’s average 3.48%. Last year the 30 year rate was at 4.04%.
The 15-year fixed mortgage averaged 2.74%, lower than last week when it averaged 2.78%. A year ago at this time, it averaged 3.20%.
The 5-year adjustable-rate mortgage (ARM) averaged 2.68% this week, down from last week’s average 2.70%. At this same time last year, the 5 year ARM averaged 2.93%.
Today at Bank of America, the 30 year fixed mortgage is at 3.375%, and the 5/1 ARM 2.50%.
30 year fixed purchase rates at Wells Fargo are 3.625%, and the 15 year fixed is 2.875%. Refinance rates for the 30 year are 3.625%, and 3.00% for the 15 year mortgage.
Chase Mortgage is reporting 30 year fixed purchase mortgage rates are at 3.25%, and the 15 year is at 2.625%. Refinance rates for the 30 year fixed mortgage are at 3.375%, and the 15 year fixed is at 2.625%.
If you would like a live rate quote and/or to discuss other possible mortgage options, please call me, Erik Sandstrom, with Caliber Home Loans at 1-800-779-4547; or email me at [email protected]
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I’m LoanSafe.org’s mortgage expert and a senior loan officer with Prime Lending. If you need a live rate quote, or need help getting a new mortgage, please call me direct anytime at 619-379-8999.