Interest Rates Change Daily Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between stocks and bonds. |
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Mortgage Interest Rates* |
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Rates as of Friday, 2nd January, 2009: |
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|
Conforming |
APR |
Payment per |
Jumbo |
APR |
Payment per |
30-Yr. fixed |
5.625% |
5.761% |
$5.76 |
5.625% |
5.716% |
$5.76 |
15-Yr. fixed |
5.000% |
5.227% |
$7.91 |
5.250% |
5.402% |
$8.04 |
7-Yr. fixed ARM |
5.375% |
5.509% |
$5.60 |
5.375% |
5.465% |
$5.60 |
5-Yr. fixed ARM |
5.000% |
5.131% |
$5.37 |
5.125% |
5.213% |
$5.44 |
3-Yr. fixed ARM |
4.750% |
4.879% |
$5.22 |
5.125% |
5.213% |
$5.44 |
5-Yr. Interest Only |
5.250% |
5.383% |
$4.38 |
5.375% |
5.465% |
$4.48 |
*Rates are subject to change due to market fluctuations and borrower's eligibility. |
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Superior Home Mortgage Corp. licensed in DE, FL, GA: Georgia Residential Mortgage Licensee #14511, MD, MI, NY: Licensed Mortgage Banker - NY State Banking Department, NC, PA, SC, VA: Virginia State Corporation Commission License # MLB-566, & DC. Superior Mortgage Corp. licensed in CT, MA: Mortgage Lender License # MC3208, NJ: Licensed Mortgage Banker - NJ Department of Banking, RI: Rhode Island Licensed Lender & Broker, & TN. SHM Mortgage Licensed by the New Hampshire Banking Department |
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