Mortgage rates are still low
The benchmark 30-year mortgage rate is at new low for the year, touching its lowest level since last November.
Mortgage buyer Freddie Mac said Thursday the rate on 30-year, fixed-rate mortgages fell to 3.86 percent from 3.89 percent last week. It was the fourth straight weekly decline for the key rate, bringing it to its lowest level since Nov. 10, 2016.
A year ago, the rate stood at 3.43 percent. It averaged 3.65 percent for all of last year.
| Product | Rate | Change | Last week |
|---|---|---|---|
| 30 year fixed | 3.74%
|
0.01 | 3.75%
|
| 15 year fixed | 2.93%
|
0.05 | 2.98%
|
| 5/1 ARM | 3.19%
|
0.03 | 3.22%
|
| 30 yr fixed mtg refi | 3.71%
|
0.01 | 3.72%
|
| 15 yr fixed mtg refi | 2.93%
|
0.01 | 2.94%
|
| 7/1 ARM refi | 3.30%
|
0.03 | 3.33%
|
| 15 yr jumbo fixed mtg refi | 3.87%
|
0.06 | 3.93%
|
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