A few important mortgage rates have dropped today. The 30-year fixed and 15-year fixed mortgage rates trended downward. The 5/1 adjustable-rate mortgage (ARM) rose up.
The average 30 years fixed mortgage rate decreased by 5 basis points from the previous week and is sitting at 3.13% today.
The average 15 years fixed mortgage rate decreased by 5 basis points from the previous week from 2.48% and is sitting at 2.43%
The average 30-year jumbo mortgage rate is 3.14% down by 6 basis points from 3.20% of last week.
The average 5/1 adjustable mortgage rate climbed 13 basis points since last week from 3.20 to 3.33%
The refinance average for 30-year fixed-rate refinance is at 3.20% down from last week by 5 basis points from 3.25%.
The refinance averages for 15-year is sitting at 2.50%
The refinance average for a 10-year loan is currently at 2.51%
Shop around to get the best and lowest mortgage rate.
Take care of your credit score and your debt-to-income ratio factor because they are the deciding factors to qualify you by the lender.
Reference Source: Time
https://www.compareclosing.com/mortgagenews/mortgage-rates-decreased-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.
