Persistence of low mortgage rates extension, borrowers continue to help

Persistence of low mortgage rates extension, borrowers continue to help 

Persistence of low mortgage rates have continued into a new week, marking the low rates for customers looking for a new home loan or refinance.

Current rates are at their lowest point in 2011 with 30 years fixed mortgage rates to 4.250% and fixed rate 15 year mortgage to 3.375%, while a rate of 5 / 1 ARM loan can be taken with a rate of 2.625%.

Also in are the annual minimum FHA mortgage loans, which now sit at a fixed rate of 4.250% 30 years, with rates set at 15 years 3.750% and 1.5 FHA ARM loans at 3.000%. FHA loans allow credit scores as low as 580 and usually require 3.5% down
payment.

FHA borrowers can also take advantage of several grants from state and local housing to help pay the down payment and other closing costs.

Along with the fees for single borrowers, jumbo mortgage rates well below 5%, with rates set at 30 years and 15 years 4.875% rate at 4.5% of loans ARM 5 / 1 at 3.625%.

It will be interesting to see how the market reacts as a ceiling on debt talks is planned.