Todays rates
Mortgage rates for monday 19July2010
FHA 30 yr fixed rate: 4.25%
VA 30 yr fixed rate: 4.25%
Fannie Mae 30 yr fixed rate: 4.25%
contact me for a personalized quote:
Matthew Garnes 702.526.3133 or mjgarnes@gmail.com
Entries Tagged as 'mortgage rates'
Mortgage rates fall to 2010 low
Mortgage rates dropped to their lowest level in 2010 after treasury yields slumped as investors seek safe haven after last week’s 1,000 point stock-market drop. The national average was as low as 4.5% for a 30 year fixed and below 4% for certain adjustable rate mortgages. The drop went unnoticed by most outside of the industry as the focus was mainly on the market crash.
With the home buyer tax credit having expired two weeks ago, low rates remain the best incentive for home buyers. The National Association of Realtors reported this week that housing prices rose in 91 of the nation’s 151 largest metropolitan areas.
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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