Posted on: 08th Sep, 2008 09:47 am
What is the current 30 year fixed rate?
The national average 30 year mortgage rate is now around 6%. It was 6.5% last week and has dropped down due to the Federal government's intiative to take control over Freddie Mac and Fannie Mae.
asking what today's rate is doesn't really hold any relevance in the overall scheme of things these days.
it may be instructive to know what the national average rate is, but every loan is a separate entity, and rates are determined far more by percentage of down payment, credit score(s) of the borrower(s), purpose of the loan (purchase, refinance, etc.), occupany (primary, secondary, etc.).
there are way too many variables to allow any of us to quote a rate based on an open-ended question such as posed here.
it may be instructive to know what the national average rate is, but every loan is a separate entity, and rates are determined far more by percentage of down payment, credit score(s) of the borrower(s), purpose of the loan (purchase, refinance, etc.), occupany (primary, secondary, etc.).
there are way too many variables to allow any of us to quote a rate based on an open-ended question such as posed here.
Looks like they are headed down into the low fives par.
There would be other factors that would affect your personal rates such as credit, LTV, Assets, and your firstborn's middle name.
There would be other factors that would affect your personal rates such as credit, LTV, Assets, and your firstborn's middle name.
