Mortgage Market Update
mortgage
Mortgage Rates Slip to 6.13% in Third-Straight Weekly Decline Mortgage rates in the US ticked down slightly, falling for the third week in a row. The average for a 30-year, fixed loan dropped to 6.13% from 6.15% last week, Freddie Mac said in a statement Thursday. The housing market has started to show signs of increased buyer interest in recent weeks as borrowing costs have eased. Homebuilder D.R. Horton Inc. said demand has picked up in January. Sales of new homes climbed for a third month in December, government data showed Thursday. “Mortgage rates continue to tick down and, as a result, home purchase demand is thawing from the months-long freeze that gripped the housing market,” said Sam Khater, Freddie Mac’s chief economist. “Potential homebuyers remain sensitive to changes in mortgage rates, but ample demand remains, fueled by first-time homebuyers.” Certain measures of demand have started to tick up in recent weeks, Redfin Corp. said Wednesday in a report. Despite that, the brokerage company warned that the housing market wasn’t out of the woods yet and could face pressure from an uncertain economic outlook or affordability issues. Buyers are still paying more on average than a year ago. At the current 30-year average, a borrower with a $600,000 mortgage would pay roughly $3,647 a month, about $936 more than a year ago, when rates were about 3.55%.
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Today’s Rate
Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase
IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.
Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.
APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.
Golden Star, Inc. dba Transglobal Lending, 185 W. Chestnut Ave., Monrovia, CA 91016, NMLS # 1437002 (www.transgloballending.com). All rights reserved. Equal Opportunity Employer and Equal Housing Lender. All mortgage products are subject to credit property approval. Rates, Program terms and conditions are subject to change without notice. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend.
