Las Vegas Mortgage Rates
National Overnight Averages Today Last Week
30 yr fixed 5.35% 5.40%
15 yr fixed 5.04% 5.10%
5/1 ARM 5.61% 5.75%
30 yr jumbo fixed 6.91% 7.01%
5/1 jumbo ARM 6.01% 6.05%
Good news for those of you in Las Vegas who are in the market to refinance your current mortgage or purchase a new home! Mortgage rates fell moderately this week.
The average 30 year fixed rate fell 11 basis points (BPS)
The average 15 year fixed fell 10 BPS
The average 30 year fixed jumbo rate fell 16 BPS
And the winner is the 5/1 ARM loan which slid 17 basis points this week.
These low rates combined with low housing prices due to short sales and foreclosures all over the Las Vegas valley makes now a great time to purchase or refinance your home. If you would like a free mortgage analysis contact me directly by e-mail at mgarnes@garnesmortgage.com or directly by phone at 702.526.3133. There is no telling how long these rates will last so lock in a low 30 year fixed rate now before they are gone…
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