When interest rates are relatively high people are more inclined to opt for adjustable-rate mortgages which have a lower introductory rate. The average 30-year fixed mortgage rate fell to 3.79%, down 6 basis points from 3.85% a week ago. 15-year fixed mortgage rates fell 4 basis points to 3.13% from 3.17% a week ago.
Mortgage rates moved lower today following a mixed report on the US labor market. The once-a-month Employment Situation (the official name for the "jobs report" that often influences interest rates).
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A 15-year mortgage will save you money in the long run because interest payments are drastically reduced since you’re paying only 15 years’ worth of interest versus 30 years.
While interest rates and the relationships between 30 and 15-year mortgage refinance rates can vary greatly, you can generally expect to pay between 20 and 30 percent less for a 15-year loan than you would for a traditional 30-year fixed rate mortgage. (You should always contact a loan broker to get an exact quote, though.)
Current Market Interest Rate What is the average interest rate on a money market? The average interest rate on a money market account is currently 0.25 percent, according to Bankrate’s weekly survey of institutions.Yet some.
Historical 15-Year Fixed Mortgage Rates . The U.S. economy fell into a recession in the early ’90s following a sharp increase in the cost of gasoline and a crisis involving a number of savings and loan associations. By 1992, the recession had ended and the average annual rate on 15-year fixed mortgages was 7.96%.
For the best rates, you typically need to have a fico of 760 or above.A 15-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 15-year loan period. The 15 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate.
Mortgage Rates Phoenix Arizona Mortgage Loan Rates. For current mortgage loan rates please contact us at (602) 264-6421 toll free (866) 264-6421. Apply Now. 1 Rates are based on 80% Combined Loan To Value (CLTV). Your rate may be higher depending upon your credit history and CLTV. Account set-up fees include $185 processing fee and $14 flood determination.
While a P/E of 15 is not necessarily "cheap", it is well below the valuation of the S&P 500. Two, DVY’s Utilities exposure.
About 15 Year Home Refinancing Loans. In low interest rate environments consumers typically prefer the certainty of fixed-rate loans over adjustable-rates. In high or rising interest rate environments consumers may see a larger relative discount in ARM loans which can help shift their preference across.