What is the Home Mortgage Interest Rate Today?

The current market is quite unpredictable with nearly every mortgage lender struggling to provide the most competitive interest rates in the market. If you can find a lender who stands apart by providing non-fluctuating rates, consider it a wonderful day. Currently, the benchmark three-decade fixed interest rates have really not changed much. This favors banks as they work in a market where demand is typically steady.

Today, it is not too hard to find the best rate for your mortgage. The long term financing by banks include 30-year fixed mortgage rate loans provided at 4.5 percent interest rate with an annual percentage rate of 4.7 percent. On the other hand, the 15-year fixed rate property loan is easily secured at 3.5 percent interest rate or a 3.81 percent APR yield. It is also possible for interested borrowers to find a short 10-year fixed mortgage home loan provided at 3.375 percent interest rate or a 3.8 percent APR yield.

If you are looking for a special mortgage deal to finance your property investment, try jumbo variant 30-year fixed rate packages for home loans attracting a 4.78 percent APR yield or 4.6 percent interest rate. Conversely, the 15-year short term jumbo fixed rate home loan is available at 3.75 percent interest rate including a yearly return rate of about 4 percent.

If you are a homebuyer troubled by a poor credit score or unable to meet a high down payment, choose an insured 30-year FHA fixed rate home loan provided at a 4.38 percent interest rate with a 4.88 percent APR yield. It is also possible to choose the alternative 15-year short term equivalents of an FHA 30-year fixed rate mortgage loan option provided at a 4 percent lending rate with a 4.565 APR yield.

In the area of adjustable mortgage rate options, those shopping for a mortgage can choose a 3-year mortgage deal provided currently at 2.25 percent interest rate and 3.26 percent APR yield for starters. You can also try a flexible adjustable rate 5-year home loan being provided at a 2.625 percent interest and a 3.25 percent APR yield at the start of the mortgage loan phase.

The average fixed mortgages rates around the United States are showing signs of falling for the second week in a row during the opening of the seasonal spring real estate and home buying period. Since they hit a record low in 2013, mortgage rates have continued to go up by one percentage point.

Most analysts have had their eyes focused on an improving economy expected to give the housing market a lift as it has continued its robust recovery over the last several years. Nonetheless, housing has not been able to maintain the momentum as increasing mortgage rates and higher home prices have made potential mortgage seekers develop cold feet. For many other potential homebuyers, qualifying for any mortgage with a decent rate has been a tall order.

Mortgage rates rose over the year due to the Federal Reserve’s speculation that it was going to lower its monthly 85 billion dollar bond purchases. This has helped in ensuring the long-term home mortgage interest rate remain low.