May. 29, 2008 - Mortgage Interest Rates This Week
Mortgage rates on 30 Year Arms and 15 Year Arms jumped up this rate. 30 Year Mortgage Rates went from 5.98 to 6.08 and 15 Year rates went fom 5.55 to 5.66. Rates on 5 and 1 year ARMS remained relatively unchanged.
May 29,2008
30-yr 6.08 15-yr 5.66 5-yr ARM 5.62 1-yr ARM 5.22
May 22,2008
30-yr 5.98 15-yr 5.55 5-yr ARM 5.61 1-yr ARM 5.24
May 15, 2008
30-yr 6.01 15-yr 5.60 5-yr ARM 5.57 1-yr ARM 5.18
May 8, 2008
30-yr 6.05 15-yr 5.60 5-yr ARM 5.67 1-yr ARM 5.29
May 1, 2008
30-yr 6.06 15-yr 5.59 5-yr ARM 5.73 1-yr ARM 5.29
So using our free mortgage calculator lets see what these numbers translate into for a 200k mortgage.
May 29th
30-yr $1209.4
15-yr $1651.19
5-yr ARM $1150.68
1-yr ARM $1167.36
May 22th
30-yr $1196.53
15-yr $1639.47
5-yr ARM $1149.41
1-yr ARM $1103.16
Since the FED has signaled that they are not going to continue to cut rate I expect rates to go higher over the course of the summer. Here are rates over the last few weeks.
Ki is a realtor working with investors in the Austin real estate market. He provides visitors a graphical search of the Austin MLS and updated commentary on the market on his Austin real estate blog.
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