The Average 30 Year Mortgage Rate was released yesterday and we are starting out the New Year at extremely low interest rates. The national average for a 30 year fixed rate mortgage is at 3.91% according to Freddie Mac. Below is a chart to put these rates into Historical Perspective.
If you are not refinancing or buying now – you may want to rethink that. I personally don’t believe I will live long enough to see these kinds of rates again in my lifetime…
Check out Edina Realty Mortgage Rates for today.
Today’s mortgage rates
Interest Rate APR 30yr Fixed Conforming 3.875% 4.055% 30yr Fixed FHA 3.750% 4.550% 15yr Fixed Conforming 3.250% 3.566% 7yr ARM Conforming 2.500% 3.143% 5yr ARM FHA 2.750% 2.908% 30yr Fixed Jumbo 4.000% 4.140%
Rates as of 1/6/2012 9:00 AM Central
Important disclosures, assumptions
and APR View/print
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Click here if you would like to get more information about refinancing or purchase with Edina Realty Mortgage.
Will Rates go up? Of Course rates are going to go up, the question is When and by How Much….
If you want a barometer to what direction rates might head, you can watch the 10 Year Bond. Mortgage rates tend to track closely to the 10 year bond even though they are not directly tied to each other.
Below is an interactive Chart of the 10 Year Bond. I marked the date Operation Twist was announced.
[wikichart align=”left” ticker=”tnx” showannotations=”true” livequote=”true” startdate=”06-07-2011″ enddate=”06-01-2012″ width=”390″ height=”245″]
- Mortgage applications drop after refi surge (housingwire.com)
- Mortgage Rates Remain Exceptionally Strong Amid Exceptional Risk (mortgagenewsdaily.com)
- Average 30 Year Fixed Rate mortgage dips below 4% again (craigkamman.com)