About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

We get this report from the folks over at HousingWire:

The 30-year fixed-mortgage rate (FRM) dropped week-to-week nationally averaging 4.28%, according to Zillow Mortgage Marketplace’s weekly update. This is down 0.1% and a new record low according to their data. Last week’s averages remained steady.

Regionally 30-year rates are varying, but the majority of states saw a drop. California’s current rate is 4.33%, down from 4.34% last week, as is Colorado’s at 4.26%, down from 4.28%. Rates substantially decreased in New York to 4.23% (from 4.46%), Massachusetts to 4.28% (from 4.61%), Florida to 4.18% (from 4.33%) and Washington to 4.36% (from 4.56%) from last week.. Texas is down to 4.27% from 4.36% and Illinois state average is down to 4.33% from 4.31%.

Zillow reported the rate for 15-year fixed home loans at a national average 3.85%, while the rate for a 5-1 adjustable-rate mortgage (ARM) is at 3.27%.

These record low interest rates are a temporary thing. Contact us in the sidebar today if you would like to look into a refinance yourself.

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