30 year fixed rate mortgages, the most popular choice among home shoppers, has been below 4 percent every week this year except for one and as of today the rates have almost reached 3%
15 year fixed rate mortgages, which tend to be more popular among refinances has remained in the high 2% range for some time now since May of this year.
The following average mortgage rates for the week ending Sept. 13:
- 30-year fixed-rate mortgages: averaged 3.55 percent, with an average 0.6 point, holding the same as last week. A year ago, 30-year rates averaged 4.09 percent.
- 15-year fixed-rate mortgages: averaged 2.85 percent, with an average 0.6 point, down slightly from last week’s 2.86 percent average. A year ago, 15-year rates averaged 3.30 percent.
Purchasing or refinancing a home today in California is a very smart move. We have a very strong and healthy economy in this state, with the rates as low as they have been for quit sometime now, you need to explore the option to purchase a home and explore the option to refinance your home in a short term like a 15 year so that you will save thousand of dollars on the interest over the life of the loan.
To see how much you can afford on a monthly payment go http://www.nathanrufty.com/MortgageCalculators and lets get started on your pre-approval process right away.