The average 30 year fixed rate mortgage dipped below 4% according to Freddie Mac. It is hard to believe we will see these rates for an extended period of time even though many experts believe they aren’t going to go up. My argument is that they are going to go up, the question is when. Here is a graph of the 30 Year Fixed Rate Mortgage for some historical perspective:
Edina Realty’s Mortage Rates today were at 3.875% !!! This is unbelievable. If it goes much lower it is “free” money… Look at the rates on the ARMS or even the Jumbo at 4%.
If you have not refinanced yet or purchased yet, you may want to consider doing so soon. Historically speaking, there has never been a better time when prices are low AND rates are also low.
Today’s Mortgage Rates
The current interest rates shown below are based on a purchase of a single-family, primary residence. For current refinance rates, contact us
as of 12/08/2011 12:10 PM Central
Product Interest Rate APR Conforming1 and FHA1 Loans 30-Year Fixed 3.875% 4.055% 30-Year Fixed FHA 3.750% 4.550% 15-Year Fixed 3.250% 3.566% 7-Year ARM 2.625% 3.200% 5-Year ARM FHA 2.750% 2.908% Jumbo1 Loans – Amounts that exceed conforming loan limits1 30-Year Fixed 4.000% 4.140%
If you would like further information about refinancing or pre-qualifying for a mortgage with Edina Realty Mortgage, this page will get you started to see what Edina Realty Mortgage can offer.
- Fixed Mortgage Rates Continue Downward Movement (inquisitr.com)
- Mortgage applications jump 12.8% as refinancing volume soars (housingwire.com)