May. 16, 2008 - Mortgage Interest Rates Update
Here is a breakdown for the last few weeks.
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
April 24th, 2008
30-yr 6.03 15-yr 5.62% 5-yr ARM 5.68 1-yr ARM 5.29
So what would these rates translate into for a mortgage. Using our free mortgage calculator lets run some numbers.
Using our free mortgage calculator lets take a look at what the mortgage payment would be for a 200k loan. The mortgage payment is $1.29 less than what it would have been last week. Considering that the FED cut rates I was a little dissappointed. I was hoping for rates to drop a little more this week.
May 15th
30-yr $1200.38
15-yr $1711.46
5-yr ARM $1144.37
1-yr ARM $1095.75
May 8th, 2008
30-yr $1205.53
15-yr $1711.46
5-yr ARM $1157
1-yr ARM $1109.36
Ki helps clients in the Austin real estate market. His site has a free search of the Austin MLS along with information on his Austin real estate blog.
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