Rates are holding steady at historic lows – and local rates are doing the same. In fact, FHA rates are down to 4.25% for a 30 year fixed! Both the 30 year and 15 year conventional mortgages are holding steady this week.
These are incredible rates that are saving home buyers and those who refinance literally hundreds per month. We just had a client lock in at 4.375%, when they started looking about 3 months ago they were quoted 5.25%. This new lower rate will save them more than $200 per month!
Here’s the chart showing rates from the beginning of the year.