Mortgage Interest Rates continue to vary from day to day as both Buyer and Sellers adjust to the mortgage rate shock begun in 2022. Here is a general interest rate update for your information and home buying plans as of today.
Program Rate APR
Conforming 30 Year Fixed 6.625% 6.07%
Conforming 15 Year Fixed 6.000% 6.128%
Jumbo 30 Year Fixed 6.375% 6.417%
Jumbo 15 Year Fixed 6.375% 6.551%
FHA 30 Year Fixed 6.250% 7.346%
VA 30 Year Fixed 6.125% 6.370%
Remember, these are the rates for today and should not be your guide for our local Santa Fe market. Mortgage Interest Rates now change like the weather. It is important to understand the buying process and how much purchasing power you have to bring to the table. Mortgage rates are only part of the story. Your credit and downpayment are also a part of equation.
What is important is when you are searching for Santa Fe home, condo or townhome opportunities on the Santa Fe market today, it is important to connect with a lender. To continue this conversation and learn more, connect with Emily Medvec at 505-660-4541 for more information and lender referrals. In some situations, it may be possible to buy down your rate!
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