Mortgage Rates 07-05-16

By Lisa Robison Updated on 7/5/2016

Mortgage rates dropped again today, bringing several lenders down to a 3.25% rate for a 30 year fixed conventional loan.  The last times rates hovered around this number was back in late 2012.  We are on a current run of 7 days, and rates may go lower, but not without some ensuing bounces afterwards.    With home appreciation slowing, it is a good time to buy.  The main factors in the current state of rates continue to be a general slowing of the global economy.  Domestic reports make a minor difference, but long term considerations are centered around the big picture.  Check back here tomorrow to get the most up-to-date mortgage rates and news.  

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• 30 year (FRM) rates at 3.37% (-0.03%).
• 15 year (FRM) rates at 2.72% (-0.02%).
• FHA 30 year Fixed rates at 3.25% (+0.00%).
• Jumbo 30 year Fixed rates at 3.45% (-0.02%).
• 5/1 ARM rates at 2.84% (+0.03%).