Interest rates have remained low despite a strong stock market and positive economic news! Rates are up slightly this morning due to the better than expected economic report. Unemployment fell again and factory orders came in higher as durable goods and non-durable goods orders are up.
What does this mean for interest rates?
Here is a breakdown of some rates today.
30 year fixed- 4.125% up to a loan amount of $417K
30 year fixed- 4.25% up to a loan amount of $517,500
15 year fixed- 3.125% up to a loan amount of $417,500
FHA 30 year fixed- 3.50% up to a loan amount of $417,500; loan amount up to $517,500 rate is still 3.50%
Jumbo 30 year fixed- 4.00%
All of the above rates assume a credit score over 700.
What does this mean for interest rates?
Here is a breakdown of some rates today.
30 year fixed- 4.125% up to a loan amount of $417K
30 year fixed- 4.25% up to a loan amount of $517,500
15 year fixed- 3.125% up to a loan amount of $417,500
FHA 30 year fixed- 3.50% up to a loan amount of $417,500; loan amount up to $517,500 rate is still 3.50%
Jumbo 30 year fixed- 4.00%
All of the above rates assume a credit score over 700.
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