Mortgage Rates Today: High Value Deals at PHH Mortgage
The vast majority of US lenders are offering excellent mortgage deals today across a variety of products, with PHH Mortgage (NYSE:PHH) certainly being no exception. While the rates overall may be somewhat up from the record lows seen during the course of last week, they are still quite incredibly attractive and among the lowest seen in many decades.
As of today, those looking to take full advantage and buy a new home while the picking are so rich can secure 30 year fixed rate terms from PHH for 4.280% with a resulting APR of 4.479%, while the popular 15 year fixed term option is today at 2.420% with a resulting APR of 3.758%.
7/1 ARM terms are today being offered at a rate of 3.030% with a starting APR of 3.263%, while the 5/1 ARM term is now at 2.875% with an APR of 3.219% variable.
Taking into account the modestly optimistic data from the past few months, house prices across the US seem to once again be heading in the right direction, though it may be a little to early to celebrate yet. Despite the fact that both home prices and mortgage rates have averaged their lowest in decades over recent weeks, this has not proved enough to persuade new buyers to enter into new debt in the face of continual economic uncertainty.
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