Yesterday (3-31-08) the mortgage rates looked like this:
30 Year Fixed Rate | ||
Rate | APR | Points |
5.625% | 5.757% | 0.000% |
15 Year Fixed Rate | ||
Rate | APR | Points |
5.125% | 5.346% | 0.000% |
5 Year Adjustable Rate | ||
Rate | APR | Points |
5.875% | 8.627% | 0.000% |
3 Year Adjustable Rate | ||
Rate | APR | Points |
5.750% | 9.668% | 0.000% |
Actual interest rates and APR's may vary based on credit history. Assumptions
The 15 year and 30 are now up .25% as of this morning. If you are sitting on the fence, hoping rates will punch down into the 4% range then don't hold your breath. A .25% difference in your rate on a $200,000 loan for 30 Years is about $30 a month. Not huge but over 5 years thats almost $2,000. Fannie Mae had predicted (on March 4th) that we would hit 5.5% this year and we did do that this last month. The other number I keep hearing is that we could also swing all the way up to 7%.
If you are going to buy or refinance a house then don't wait another day!
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