Today some of the important mortgage rates dropped.
The Fifteen-year fixed and 30-year fixed mortgage rates both drifted down. The 5/1 adjustable-rate mortgages also moved down.
Mortgage interest rates are never permanent, but interest rates are at their best so this is an excellent time for future homebuyers to secure a fixed rate.
30-year fixed-rate mortgages
The average rate of a 30-year fixed mortgage is now at 3.05%, it has dropped by 4 basis points since last week.
15-year fixed-rate mortgages
The average rate for a 15-year, fixed mortgage dropped by 3 basis points compared to the same time last week is at 2.35%.
5/1 adjustable-rate mortgages
The average mortgage rate for 5/1 adjustable-rate is 3.07%, a drop of 4 basis points from last week.
Before purchasing a home, take your personal needs and financial situation into account, and shop around for different lenders to find the right one for you.
Reference Source: CNET