Mortgage Rates Headed Up – Unemployment Headed Down
As a result of better unemployment picture, banks are now offering conforming fixed-rate 30-year mortgages above 5.50 percent, up from rates of 5.25 percent earlier this week. Current mortgage rates are not much higher than the low mortgage rates set last month around 5.00 percent. You can also buy mortgage rates down buy paying points, the more points (discount points) you pay the lower the mortgage rate will be. Mortgage rates will still probably stay low for awhile since inflation isn't a threat with the high unemployment rate. The government still realizes the housing market still doesn't have legs to stand on. As for the unemployment numbers the U.S. non-farm payroll dropped another 247,000 jobs in July, which is lower than the average loss of 331,000 jobs in the past three months. Lender
APR / Rate
Fees / Points
Payment
$3,904
Includes 0.976 points for $3,904
Lender Fees: $0
$3,242 /mo
$6,000
Includes 1.000 points for $4,000
Lender Fees: $2,000
$3,242 /mo
$3,644
Includes 0.911 points for $3,644
Lender Fees: $0
$3,374 /mo
$4,500
Includes 0.625 points for $2,500
Lender Fees: $2,000
$2,496 /mo
$2,296
Includes 0.574 points for $2,296
Lender Fees: $0
$2,526 /mo
$3,828
Includes 0.957 points for $3,828
Lender Fees: $0
$2,592 /mo
$4,000
Includes 1.000 points for $4,000
Lender Fees: $0
$3,568 /mo
$5,804
Includes 0.951 points for $3,804
Lender Fees: $2,000
$2,662 /mo
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.
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