Economy picks up so does interest rates

After hovering for weeks at 4.5%, mortgage rates headed higher as fresh data suggests the economy is picking up. Freddie Mac’s weekly survey released on Thursday morning showed average rates at 4.51%, but rates continued to climb along with stocks, which notched their biggest weekly gain in two years.

Here are our weekend rates for purchase loans on single-family homes greater than $150,000 with 20% down and 740+ credit scores :

Conf 30 year fixed to $417,000: 4.625%

Conf 30 year fixed ($417,000-$535,900): 4.75%

FHA 30 year fixed: 4.25%

FHA 5/1 ARM: 3.25%

Jumbo 30 year fixed ($528,750+): 4.875%

All rates reflect 1 origination, 0 discount points. Please note rates do vary by credit score, loan amount, rate lock period, occupancy and loan to value.

Wes Atiyeh

Associate Broker

Long and Foster REALTORS
5702 Grove Ave
Richmond, VA 23226

Cell 804-370-0401
Office 804-484-3388
Licensed Agent in State of Virginia

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