It’s still a good time to build your own home to take advantage of the low rates! Rates for 30-year home loans were unchanged this week and remain close to record-low levels.
The average rate for a 30-year fixed mortgage was 5.04 percent, the same as a week earlier, mortgage company Freddie Mac said Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still attractive for people looking to buy a home or refinance. Applications for home loans rose nearly 13 percent last week from a week earlier as refinancing applications surged, the Mortgage Bankers Association said Wednesday.
Loan type -- Today -- Last week
30-year fixed -- 5.25% -- 5.20%
15-year fixed -- 4.67% -- 4.66%
30-year fixed jumbo-- 6.20% -- 6.18%
5/1 ARM -- 4.29% -- 4.30%
7/1 ARM -- 4.80% -- 4.81%
Questions? Contact us at: http://www.contractorscapital.com or 763-784-3400
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