Since the beginning of the week current mortgage rates have stabilized. Friday’s unemployment rate have shown a surprising decline over May’s unemployment numbers due to which the mortgage rates were forced to rise a little bit but rates haven’t changed much since then.
As compared to historical standards, today’s mortgage rates are still low, that it is being suggested that if you are looking for a mortgage to purchase a home or refinance your current mortgage then this is the right time to do it.
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If you are buying a home for the first time then there is also a tax credit of $8,000 to purchase a home. Some legislators along with the National Association of Realtors are making efforts to in order to pass a law giving all home buyers a $15,000 tax credit.
Current Mortgage Rates
Still 30-year mortgage rates are hovering around the 5.50% range,and that is not much higher than the 30-year home loan rates that are being seen by us over the past couple of months. 15-year mortgage rates are still under 5.00% at 4.87%, this is somewhat a higher value than last week’s average 15-year mortgage rate of 4.70%.
Jumbo Mortgage Rates
Jumbo mortgage rates have raised by a larger amount this past week but they have not moved much the past few days. Today’s 30-year jumbo mortgage rates are averaging 6.31%, and that is higher over the prior week’s average mortgage rate which was 6.15%. The average rate for 15-year jumbo mortgages are at 6.15%,which have shown a big rise from the previous week’s average mortgage rate which was 5.80%.
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