Current Mortgage Rates Give you Something to Hope for

 

 

The usually financially volatile markets often become too difficult to predict. By the time you make a decision that may take days and weeks, the rates have changed again. As of today, compared with a week ago, Current Mortgage Rates and refinance interest rates have gone down by a few basis points. 

 

How much lower is the mortgage rate compared to last week?

The average APR today stands at 3.20% for a 30-year fixed mortgage and that figure means a 5 basis point reduction compared to last week.

 

Why is the mortgage rate lower?

Answering such a question would require extensive research. All that can be said is that the reduction in mortgage rates favors mortgage loan buyers. 

 

Top 5 mortgage loan lenders

No game beats the financial games! Every company wishes to woo customers with lower interest rates, offering interest rates lower than the national average. A glance at 2 of the quotes.

●       Studying one sample quote, the interest rate of 2.749% applies to a 30-year fixed loan.

●       A 20-year fixed loan offers a 2.545% interest rate.

●       A 15-year fixed loan offers a 2.041% interest rate.

●       5/1 ARM has a 2.460% interest rate.

 

The second sample quote offers a 30-year fixed with 2.750% interest and 2.861% APR.

●       20-year fixed with 2.625% interest and 2.754% APR.

●       15-year fixed with 2.125% interest and 2.272% APR.

●       7/6 month ARM with 2.250% interest and 2.623% APR.

 

Top 10 national interest rates provide food for thought

We have picked out 4 samples at random.

 

Pittsburgh Mortgage Rates

Check out 2 Pennsylvania sample quotes for Mortgage loans.

The current rate for a 30-year fixed loan is 3.00%. A 15-year fixed loan attracts an interest rate of 2.29%. ARM for 5/1 works out to 2.69%.

However, many lenders offer lesser rates.

The first quote sample for a 30-year fixed offers a 2.375% rate with an APR of 2.474%. Monthly payments are $1,104 while upfront costs are $3,697.

The second quote sample is quite similar except that APR is 2.528% and upfront costs are $5,675.

Cleveland Mortgage Rates

Ohio’s current rate for the 30-year fixed is 2.98%. The 15-year fixed mortgage loan attracts 2.25%. The 5/1 ARM offers 2.88%.

Both the sample quotes offer 2.375% interest for a 30-year fixed loan and a monthly payment of $1,104. 

APR and Upfront costs differ. The first sample quote has an APR of 2.474% and upfront costs of $3,697. The second sample quote APR is 2.528% and upfront costs are $5.675.

Honolulu Mortgage Rates

This Honolulu Company claims to offer the best rates that are 0.25% to 0.5% lower than other companies! What terms do they offer?

The 15-year fixed loan offers a 1.750% interest rate and 2.067% APR

The 30-year fixed loan offers a 2.500% interest rate and 2.672% APR

Cincinnati Mortgage Rates

If you want a maximum loan amount of about $548,000 for a 15-year fixed loan, the interest rate works out to 2.50% with an APR of 2.59%.

For the same loan amount, what happens if it is a 30-year fixed loan? The interest rate is 3.0% and the APR is 3.05%. Lots to think about and compare, isn’t it?