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Author at Compare Closing LLC
Amanda Byford has bought and sold many houses in the past fifteen years and is actively managing an income property portfolio consisting of multi-family properties. During the buying and selling of these properties, she has gone through several different mortgage loan transactions. This experience and knowledge have helped her develop an avenue to guide consumers to their best available option by comparing lenders through the Compare Closing business.
Latest posts by Amanda Byford (see all)
Average mortgage rates dropped lower yesterday. Phew! That was the first fall in 10 calendar days and felt overdue.
Today’s rates might feel high. But that’s only compared with parts of 2020 and 2021. Go back any further and they’re still extremely low.
And there may perhaps be more good news this morning. Because mortgage rates today look likely to hold steady or inch lower.
Current mortgage and refinance rates
| Program | Mortgage Rate | APR* | Change |
|---|---|---|---|
|
Conventional 30 year fixed |
3.241% |
3.257% |
-0.04% |
|
Conventional 15 year fixed |
2.531% |
2.558% |
-0.06% |
|
Conventional 20 year fixed |
2.991% |
3.027% |
-0.05% |
|
Conventional 10 year fixed |
2.439% |
2.499% |
-0.08% |
|
30 year fixed FHA |
3.191% |
3.953% |
-0.04% |
|
15 year fixed FHA |
2.554% |
3.198% |
-0.01% |
|
5/1 ARM FHA |
2.526% |
3.128% |
+0.02% |
|
30 year fixed VA |
3.008% |
3.2% |
-0.09% |
|
15 year fixed VA |
2.732% |
3.082% |
-0.03% |
|
5/1 ARM VA |
2.553% |
2.352% |
+0.02% |
Reference Source: The Mortgage Reports
