![]() ![]() Here’s a comprehensive look at the current mortgage rates for all loan types: Check Zillow for mortgage rate trends and up-to-the-minute mortgage rates for your state, or use the mortgage calculator to calculate monthly payments at the current rates. ”Īs of June 15, the rate borrowers were quoted on Zillow for a 30-year fixed mortgage was 6.20%. But cooling inflation and a general economic slowdown would put downward pressure on long-term interest rates like the 10-year Treasury yield. Without further evidence that core non-housing services inflation is easing, mortgage rates are likely to remain elevated. While the uncertainty over the impact of monetary policy and the recent bank turmoil kept the Fed off the economic brakes, future rate hikes may still be necessary.īond yields – and the mortgage rates that tend to follow them – depend on current and expected inflation as well as the economic outlook and the path of interest rates. In his press conference following the June FOMC meeting, Chair Powell referred to the non-housing services sector’s tight labor market as ‘the part of the economy where we have seen the least progress’ against fighting inflation.ĭespite a Fed pause in June, Powell indicated projections for the terminal rate have moved up. Concerns about this dynamic were reiterated by Federal Reserve Chair Jerome Powell on Wednesday. “The latest consumer price index report shows core inflation – especially core non-housing services inflation - remains high. ![]() “Mortgage rates moved up this week as latest data show core inflation remains stubbornly high above the Fed’s target and Fed projections for its key policy rate move up,” said Orphe Divounguy, senior macroeconomist at Zillow Home Loans. These calculations assume an 80% loan-to-value ratio, a credit score of 740 or higher and a 60-day lock period.Mortgage Rates Edged Higher On Stubborn Core Inflation And Fed Projections For jumbo mortgages, the loan amount is $750,000. ![]() For conventional mortgages, the calculations are based on an owner-occupied, one-unit property with a loan amount of $350,000. To determine average mortgage rates, Curinos uses a standardized set of parameters. This is up from last month’s 6.67% and up from 4.97% last year.Īt the current 30-year jumbo rate, you'll pay around $654 each month for every $100,000 you borrow, down from about $657 last week. The mortgage rates for 30-year jumbo loans fell today to 6.83% from 6.88% last week. Today's rate is up from last month’s 6.13% and up from a year ago when it was 4.57%.Īt the current 15-year fixed rate, you'll pay about $860 each month for every $100,000 you borrow, down from about $864 last week. The mortgage rates for 15-year fixed loans inched down today to 6.30% from 6.36% last week. Ready to buy? Compare the best mortgage lenders 15-year fixed mortgage rates The 30-year fixed-rate average today is 1.12 percentage points below the 52-week high of 8.25% and 1.25 percentage points higher than the 52-week low of 5.88%.Īt the current 30-year fixed rate, you'll pay about $674 each month for every $100,000 you borrow - down from around $681 last week. Last month, rates were at 7.01%, putting today’s rates higher and up from 5.40% last year. This means they’ve fallen from 7.24% last week. ![]() According to data from Curinos, mortgage rates for a 30-year fixed-rate loan sit at 7.13%. ![]()
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