The average rates for fixed-rate mortgage loans rose since last week but they are still lower for fixed rates loans than they are for ARMs loans.
Today the average rate of 30 years fixed mortgage rose to 3.54% with a 0.19% raise same time last week the rates were at 3.35%.
The average rate of 15 years fixed mortgage today is at 2.59% which is 0.18% more than last weeks 2.41%
The average rate of 7/1 ARM mortgage today stands at 4.05% rising by 0.03% the rate last week was at 4.02%
Today the average rate of 10/1 ARM mortgage is at 3.33% which is 0.3% less than last weeks 3.63%
The average mortgage rate of 30 years FHA is standing at 2.76% with a drop of 0.02% from 2.78% last week.
And the average rate of VA mortgage loans today rose by 0.15% compared to last week from 2.70% is now standing at 2.85%.
FOR THE CURRENT REFINANCE RATE
Today the average rates for refinancing loans are almost all higher than for mortgage purchase loans, but they’re comparatively better than they were last week. ARMs rates have dropped.
Like mortgage purchase loans refinance ARMs are still higher than average rates for fixed-rate loans.
The average rate for a 30 year fixed refinance today is 3.99% a rise of 0.25% from 3.74% last week.
There is a rise of 0.2% in the average rate for a 15 year fixed refinance rate from 2.61 % last week to 2.81%.
The average rate of 7/1 ARM refinance dropped today 0.14% from 4.17% last week it stands today at 4.03%
The average rate of 10/1 ARM refinance dropped today 0.15% from 3.95% last week it stands today at 3.80%
There is a drop of 0.01% in the average rate of 30 years FHA refinance from 2.80 to 2.79%
And the average rate of VA mortgage loan refinances rose by 0.15% from 2.72% to 2.87%.
Reference Source: Business Insider
https://www.compareclosing.com/mortgagenews/the-mortgage-rates-today/
Last Friday the average mortgage rates fell.
And this week they start at their lowest level in more than a month.However, the early movements in markets suggest that mortgage rates could rise today.The conventional 30 years fixed mortgage rate remains unchanged at 2.81%The conventional 20 years fixed mortgage rate remains unchanged at 2.62%The conventional 15 years fixed mortgage rate use by 0.01% today and is standing at 2.13%The conventional 5 year ARM stands at 3.53% same as last week.The 30 years fixed FHA remains unchanged since a week back at 2.68%The 15 years fixed FHA rate has moved up by 0.14% since last week standing today at 2.41%Last week’s rate fall was welcoming but the rates will not stay there for long.Compared to last week the yield on the 10-year treasury rose by 0.03%, which is bad news for mortgage rates.The mortgage rates and economy go hand in hand if the economy does well the rates will go up and economists are expecting 2021 to be a boom year so if you are still looking for an opportunity to lock in a mortgage now is the best time.Reference Source: The Mortgage Rateshttps://www.compareclosing.com/mortgagenews/todays-mortgage-and-refinance-rates/
2nd mortgage is a type of loan taken on top of a 1st mortgage with the condition of having paid a chunk of the 1st or original home mortgage.
This is why a 2nd mortgage is also referred to as a piggyback mortgage.
If you are thinking of starting up a business or you already have a business of your own and are just looking for a convenient way to improve or expand, you can apply for fast 2nd mortgages anytime.
Read more to know Can I Get A 2nd Mortgage For My Business.
