Mortgage Rates 05-21-2018 Lender411

By Joy Green Updated on 5/21/2018

Along with other trends in this millennial economy, “gigging” is also being considered a income source in the lending market. Many millennials despise the idea of a 9-5, mundane career and instead are taking more and more “gig’s” instead. “Gig-economy workers tend to have flexible work arrangements, working on single projects or tasks preforming on-demand services such as transportation (Uber, Lyft) lodging rental (Airbnb and VRBO) food/goods delivery, and personal tasks (TaskRabbit).” With the growth in “gig” job sourcing, this has led to an increase of loan applications, leaders are reporting with such income streams. Concluding last year’s National Housing Surveys about working in the "gig" economy, Fannie Mae suggests there is a potential for new tools that could help lenders verify and assess gig economy income.

 

Bookmark this page for mortgage rates: 

 

• 30-year (FRM) rates at 4.78% (0.00%)

• 15-year (FRM) rates at 4.21% (0.00%)

• FHA 30-year Fixed rates at 4.50% (0.00%)

• Jumbo 30-year Fixed rates at 4.80% (0.00%)

• 5/1 ARM rates at 3.99% (-0.01%)