Mortgage Rates hold near record lows….Sales of homes are up

Mortgage rates  held near record lows this week, with Freddie Mac reporting the average 30 year fixed rate at 4.0%. Rates have been below 5 percent for all but two weeks in the past year. Just five years ago they were closer to 6.5 percent. Ten years ago, they were above 8 percent.

Here are current rates for purchase loans on single-family homes greater than $150,000 with 20% down and 740+ credit scores . Please call for rates on refinances.

Conf 30 year fixed to $417,000: 4.0%
Conf 15 year fixed: 3.25%
Conf 30 year fixed ($417,000-$535,900):  4.0%
FHA 30 year fixed:  3.75%
FHA 5/1 ARM:  2.75%
Jumbo 30 year fixed ($528,750+): 4.25%

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.

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