Mortgage Rates Hold Steady while New Homebuyer Applications Slide
Average mortgage rates across the US are something of a mixed bag today, with 15 year jumbo options and confirming mortgage rates moving lower. 30 year jumbo terms were slightly up, but still sit at near all-time lows.
However, the current rock bottom rates are doing little to bring home buyers back into the market. According to the latest figures from the Mortgage Bankers Association, the number of Americans applying for a home loan for purchase declined by 9.6% compared to the previous week.
Current rates for the average 30 year fixed term mortgage are today at 4.29%, which marks a slight decrease from the 4.30% of yesterday. 15 year fixed term mortgages are today being offered at 3.49%, which is again a very slight decrease on the 3.51% of yesterday.
With regard to jumbo mortgage options, the 30 year fixed term jumbo loan is today averaging 4.70, up fro the 4.68% recorded yesterday. 15 year jumbo mortgages on the other hand are slightly down on average, at 3.96% compared to yesterday’s 3.98%.
Today’s mortgage rates on 30 year jumbo loans are averaging 4.70%, up from yesterday’s average 30 year jumbo mortgage rate of 4.68%. 15 year jumbo rates are averaging 3.96%, down from yesterday’s average 15 year jumbo rate of 3.98%.
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