First Time Home Buyers
Mortgage Rates Rally
Mortgage bonds had dropped significantly since December 1st’s lows, but have been in rally mode to start the week. We’re currently trading up almost 50 basis points (.5% discount points) on the day. That means that a rate from yesterday with 1 discount point should cost roughly .5% in discount points today.
You see this in action on the 30 Year Fixed 5% rate today. Yesterday, that rate would have had 47 discount points. Today, there is no fee to get that rate. It is usually very similar, but today’s relationship between mortgage bonds and mortgage rates is within .01%.
Current Interest Rates
| No Origination Fees or Origination Points On These Rates, Read Assumptions for Full Details. | ||
| 30 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.875% | 0.61% | 4.996% |
| 5.000% | 0.00% | 5.067% |
| 20 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.750% | 0.72% | 4.879% |
| 4.875% | 0.04% | 4.947% |
| 5.000% | 0.00% | 5.023% |
| 15 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.250% | 0.81% | 4.381% |
| 4.375% | 0.00% | 4.436% |
| 4.500% | 0.00% | 4.519% |
| 7/1 ARM | ||
| Rate | Discount Points | APR |
| 3.750% | 1.19% | 3.907% |
| 3.875% | 0.78% | 4.000% |
| 4.000% | 0.42% | 4.096% |
| 5/1 ARM | ||
| Rate | Discount Points | APR |
| 3.375% | 1.23% | 3.530% |
| 3.500% | 0.90% | 3.630% |
| 3.625% | 0.58% | 3.731% |
| FHA 30 Year Fixed | ||
| Rate | Discount Points | APR |
| 4.750% | 1.44% | 5.679% |
| 4.875% | 0.80% | 5.748% |
| 5.000% | 0.00% | 5.799% |
| Assumptions | ||
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