Product | Rate | Last Week | Change |
30-year fixed | 5.99% | 5.624% | ⇧ 0.366 |
15-year fixed | 5.24% | 4.874% | ⇧ 0.366 |
30-year FHA | 5.624% | 5.24% | ⇧ 0.384 |
30-year VA | 5.74% | 5.24% | ⇧ 0.50 |
DISCLAIMER: ALL LOANS ARE SUBJECT TO CREDIT APPROVAL. INTEREST RATES ARE SUBJECT TO CHANGE DAILY AND WITHOUT NOTICE. CURRENT INTEREST RATES SHOWN ARE INDICATIVE OF MARKET CONDITIONS AND INDIVIDUAL QUALIFICATIONS AND WILL VARY UPON YOUR LOCK-IN PERIOD, LOAN TYPE, CREDIT SCORE, LOAN TO VALUE, PURPOSE, AND LENDING SOURCE.
DISCLAIMER: FOR NEW JERSEY PURPOSES, WE ARE NOT A LENDER AND CANNOT GUARANTEE THESE INTEREST RATES.
30-year fixed-rate mortgages
Presently, the 30-year fixed-rate mortgage sits at 5.99%, reflecting a rise of 36.6 basis points from the preceding week. Despite its interest rate being higher than that of the 15-year mortgage, the 30-year option is favored by many buyers for its advantage of providing more budget-friendly monthly payments.
15-year fixed-rate mortgages
The current interest rate for a 15-year fixed-rate mortgage is 5.24%, showcasing an increasing of 50 basis points from the week prior. Choosing a 15-year mortgage enables borrowers to pay back their loan repayment quicker compared to the 30-year option. While this leads to increased monthly payments, it substantially diminishes the total interest paid over the loan’s duration.
Use our free mortgage and amortization calculators to calculate your monthly payment, including insurance, taxes, and interest.
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