Mortgage Rates 8-07-15

By Lisa Robison Updated on 8/11/2015

What will mortgage rates do today?  Mortgage professionals are voting in our daily poll.

Mortgage reports indicate that new home construction is on the rise, and is at the highest levels since 2008. Recent polls indicate that nearly a third of Americans consider this to be a good time to purchase a home, compared to 20 percent last year. About 29 percent of buyers were also likely to purchase this year, compared to 21 percent last year. The Index also discovered that 2 in 5 consumers feel that there is a lack of affordable inventory, and 44 percent are not familiar with special home affordability programs. 45% of buyers sought out information on home financing through meetings with real estate agents and lenders, whereas 56% of Millennials said they obtained information from bank websites, with 22% of those finding information though social media. This shows that the demand is there, and homebuilders should are stepping up thier game to accomodate the need for affordable new construction.  

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• 30 year (FRM) rates at 4.00% (-0.03%).
• 15 year (FRM) rates at 3.24% (-0.01%).
• FHA 30 year Fixed rates at 3.75% (+0.00%).
• Jumbo 30 year Fixed rates at 3.79% (-0.02%).
• 5/1 ARM rates at 3.05% (-0.03%).