Current mortgage rates have stabilized since the beginning of the week. Friday’s unemployment rate came showed a surprising decline over May’s unemployment numbers forcing mortgage rates higher but rates haven’t changed much since then.
Today’s mortgage rates are still low compared to historical standards, that being said, if you’re looking for a mortgage to purchase a home or refinance your current mortgage now is the time to do it.
Find Mortgage Rates Here
If you’re a first time home buyer there also is a tax credit of $8,000 to purchase a home. Some legislators along with the National Association of Realtors is trying to pass a law giving all home buyers a $15,000 tax credit.
Current Mortgage Rates
30-year mortgage rates are still hovering around the 5.50% range, which isn’t much higher than the 30-year home loan rates we were seeing over the past couple of months. 15-year mortgage rates are still under 5.00% at 4.87 percent, somewhat higher than last week’s average 15-year mortgage rate of 4.70 percent.
Jumbo Mortgage Rates
Jumbo mortgage rates rose by a larger amount this past week but haven’t moved much the past few days. Today’s 30-year jumbo mortgage rates are averaging 6.31%, higher over the prior week’s average mortgage rate of 6.15%. The average rate for 15-year jumbo mortgages at 6.15%, a big uptick from the previous week’s average mortgage rate of 5.80 percent.
These posted mortgage rates are current as of today. You can find current mortgage rates in your area by using the mortgage rate tables on MonitorBankRates.com. Mortgage Rate Tables Here
Author: Brian McKay
August 9th, 2009
