The early check of today's average mortgage rates and the refinancing home loan rates shows that the current averages ranging from Wells Fargo to Bank of America are going south. They are nearly to all time record low levels again.
According to Bankrate 3 year chart, today's mortgage rates are lower than they were in April of 2009,which was one of the lowest this country had seen for a long time. The chart shows that the average home loan rate in April of 2009 was at 4.89 percent. This was the lowest point the chart had recorded. Today's average rate shows 4.83, which would put it 0.06 percent lower than the historical low Bankrate has registered.
These rates create new opportunities for the homebuyers across the United States.
In fact last week the 15 year fixed mortgage rate hit the 4.17 percent level. Freddie Mac tracking of mortgage rates showed that this was the lowest point for the 15 year home loan rates since the mortgage lender started to track the rates. Freddie has been recording daily mortgage rates since 1991.
Today's mortgage rates at a glance
Subprime Blogger notes that today's mortgage refinancing rates at the Bank of America are nearing to their all time lows.. The average refinancing rate for the 30 year fixed mortgage seem to be around 4.75 percent. The problem for the home buyers and those who want to refinance their mortgage is their credit score. Many consumers struggle to take advantage of the new low mortgage rates because of their poor credit scores.
Wells Fargo mortgage rates today are in the same range with Bank of America. Today's 30 year mortgage rate at Wells Fargo is 4.75 percent. The same fixed FHA has the same rate. However, the APRs are higher for both. The 15 year fixed home loan rate is 4.25, which is actually a little higher than the 4.17 that Freedie Mac registered two weeks ago. The rate for 5 year ARM is 3.5 percent.
Today's rates at Zillow Mortgage Marketplace show lower numbers. The 30 yr average fixed is 4.61 percent. The 15 year fixed is 4.07. Here Zillow Mortgage Marketplace shows 3.87 percent as the last quote. The 5/1 ARM average rate is 3.55.
http://www.huliq.com/1/458-most-todays-mortgage-rates-are-heading-south