Magazine article Mortgage Banking

Loan Rate Monitor

Magazine article Mortgage Banking

Loan Rate Monitor

Article excerpt

Month in Review

Mortgage rates increased slightly as we approach the end of July. The average 30-year fixed conforming annual percercentage rate (APR) increased 0.039 percent to 3.575 percent. In addition, the average APR for a 15-year fixed conforming APR increased 0.025 percent to 2.885 percent. Moreover, the average APR for a 30-year fixed jumbo increased 0.075 percent to 3.504 percent. Mortgage rates seem to be in a holding pattern right now, which could change after the Fed meeting ends.

MONTHLY AVERAGES           31-AUG   30-SEP   30-OCT   30-NOV   31-DEC

15-Year Fixed Conforming    3.239    3.170    3.199    3.292    3.461
30-Year Fixed Conforming    3.968    3.885    3.949    4.052    4.157
30-Year Fixed Jumbo         3.725    3.568    3.697    3.685    3.793
5/1 ARM Conforming          3.083    3.075    3.095    3.228    3.446
5/1 ARM Jumbo               3.030    2.985    3.048    3.163    3.361

MONTHLY AVERAGES           29-JAN   29-FEB   31-MAR   29-APR   31-MAY

15-Year Fixed Conforming    3.146    3.091    3.049    2.989    3.046
30-Year Fixed Conforming    3.810    3.731    3.727    3.717    3.747
30-Year Fixed Jumbo         3. … 
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