National Average Mortgage Rates Largely Unchanged Once Again

October 31, 2011 / Russell Legato, Residential Property Analyst

National average mortgage rates changed very little throughout the course of the weekend, so as to once again enter the new week at almost identical levels to those of last week. A number of minor ups and downs have all but cancelled each other out, resulting in some incredibly low rates remaining long after they had been predicted as likely to end.

National Average Mortgage Rates Largely Unchanged Once Again

Current 30 year fixed rate home purchase mortgages are today averaging 4.21%, which is a day on day increase of just 0.01%, while 15 year fixed rate terms are now averaging at 3.45% which is a daily decrease of 0.02%.

30 year Jumbo loans are today averaging out at 4.56% which indicates no movement at all, while 15 year fixed rate Jumbo mortgage are now at 3.78%, which is a reduction of 0.01%.

5 year adjustable rate mortgages are today at an average of 2.82% down from last week’s average of 3.06%, while 7 year adjustable rate mortgages now have an average of 3.12% which is up from the 3.11% recorded last week.

5 year adjustable rates for Jumbo loans on the other hand are now at 3.02% which is unchanged from last week.

Despite a somewhat volatile market, mortgage rates are again offering incredible opportunities for buyer to lock in an excellent deal, though the general consensus is one that points to procrastinators being on borrowed time to say the very least.

Articles other readers have found interesting...

Top News Stories:

Comments are closed.