Average rates on the 30-year fixed-rate home mortgage hit a 25-week high after jumping nearly a half percentage point this week. Freddie Mac reported the 30-year fixed-rate mortgage averaged 5.29% on Thursday, and rates continued to climb on Friday. Last week’s average was 4.91%. We are still well below the 6.09% average from a year ago, but potential buyers and homeowners who were sitting on the fence waiting for lower rates should take notice that rates have moved quickly. It may be wise to lock in even if savings are not as great as they once were.
Here are our weekend rates:
Conf 30 year fixed to $417,000: 5.375%
Conf 30 year fixed ($417,000-$535,900): 5.625%
FHA 30 year fixed: 5.5%
Jumbo 30 year fixed ($528,750+): 6.25%
All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount, and loan to value.
Filed under: Real Estate
