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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.
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The average mortgage rates slipped down. Though it was only a small level compared to the rise it caught up on this year, they still remain incredibly low by historical standards.
| Program | Mortgage Rate | APR* | Change |
|---|---|---|---|
|
Conventional 30 year fixed |
3.152% |
3.157% |
-0.09% |
|
Conventional 15 year fixed |
2.469% |
2.587% |
-0.03% |
|
Conventional 20 year fixed |
2.844% |
2.935% |
-0.06% |
|
Conventional 10 year fixed |
2% |
2.237% |
-0.07% |
|
30 year fixed FHA |
2.938% |
3.599% |
-0.06% |
|
15 year fixed FHA |
2.757% |
3.344% |
-0.02% |
|
5 year ARM FHA |
2.574% |
3.235% |
-0.02% |
|
30 year fixed VA |
2.625% |
2.8% |
-0.13% |
|
15 year fixed VA |
2.375% |
2.697% |
Unchanged |
|
5 year ARM VA |
2.5% |
2.386% |
Unchanged |
If you are serious about your home purchase and are financially secure then this is the time to lock your rates.
Reference Source: The Mortgage Reports
