Mortgage Rates today 15 year Fixed no pointsMortage rates today 15 years Fixed no points
The banks on our list charge borrowers between 2.50% and 2.625% without points. No ACH discounts are available on loans in excess of $1,000,000,000. These are the biggest one-day point drops in the history of the Dow. FDIC not insured - No bank guarantee - Can lose value.
Mortgage rates on par with the highest levels in more than seven years
Mortgages rates, after a short break last weekend, climbed to their highest levels in over seven years, according to Freddie Mac. "The 30-year fixed-rate mortgage climbed 19 bps in this week's poll. Interest rates are now at their highest levels since the 14th of April 2011 week," said Sam Khater, Freddie Mac's head of economics, in a news brief.
"Increasing interest rates coupled with high and increasing house prices are exerting upward pressures on buying power. Whilst the still low mortgage interest rates mean that the cost of paying per month is still reasonable, the main obstacle for many borrower today is the deposit and that is why home selling has declined in many high-price environments.
A 30-year fixed-rate mortgage averaging 4.9% for the period up to 11 October compared with 4.71% last year. One year ago at that point in the year, the 30-year fixed-rate mortgage stood at an average of 3.91%. 15-year fixed-rate mortgage this weekend averages 4.29%, compared to last week's average of 4.15%. One year ago at that point in the year, the 15-year fixed-rate mortgage stood at an average of 3.21%.
This five-year, Treasury-indexed, floating interest hybride was an 4.07% variable interest mortgage with an annual mean of 0.3 points, compared to 4.01% last weekend. One year ago at that point in the year, the five-year floating interest mortgage stood at an annual mean of 3.16%. "Powerful publications of job and wage figures were in line with analysts' expectation and provided further proof of a buoyant US economy," said Aaron Terrazas, Zillow based Sen iorconomist, as the firm published its own rates trackers on October 10.
However, there is no question that the bullish move is significantly higher, and commentaries from several Fed officers supported the idea that the U.S. dollar could hold higher interest rates." Next news that could impact interest rates is the publication of Thursday's Verbraucher Preis figures, and industry analysts will be looking for indications of changes in interest rates, Terrazas said.
"Interest rates will be ready to rise even more if price rises more quickly than anticipated. Lower releases could provide transient easing for creditors, although more than an interest cheap date unlock is needed to reverse last week's rally."