Connect with us

Business

October 13, 2021 No move on mortgage rates – Forbes Advisor

Published

on

 


Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

Mortgage rates haven’t budged today. If you are looking to buy or refinance a home, you still have the opportunity to take advantage of a historically low rate.

Today, the average rate for a 30-year fixed mortgage is 3.23%, according to Bankrate.com, while the average rate for a 15-year mortgage is 2.46%. On a 30-year jumbo mortgage, the average rate is 3.21% and the average rate on a 5/1 ARM is 2.79%.

Related: Compare current mortgage rates

30 year fixed rate mortgages

The average 30-year fixed-rate benchmark mortgage rate remained at 3.23%. Last week, the 30-year fixed rate was 3.18%. The 52 week low is 2.83%.

The APR on a 30-year fixed rate is 3.39%. This time last week it was 3.35%. The APR is the overall cost of your loan.

According to the Forbes Advisor mortgage calculator, borrowers with a fixed rate mortgage of $ 100,000 over 30 years will pay $ 434 per month in principal and interest (taxes and fees not included) at the current interest rate of 3.23. %. You would pay around $ 56,279 in total interest over the life of the loan.

15 year fixed rate mortgages

Today, the 15-year fixed mortgage rate stands at 2.46%, the same as it was at this time yesterday. Last week it was 2.43%. Today’s rate is higher than the 52-week low of 2.28%.

The APR on a 15-year fixed rate is 2.71%. This time last week it was 2.69%.

With an interest rate of 2.46%, you would pay $ 665 per month in principal and interest for every $ 100,000 borrowed. Over the life of the loan, you would pay $ 19,683 in total interest.

Giant mortgages

The average interest rate on the 30-year fixed-rate jumbo mortgage is 3.21%. Last week, the average rate was 3.14%. The 30-year fixed rate on a jumbo mortgage is currently higher than the 52-week low of 2.85%.

Borrowers with a 30-year fixed rate jumbo mortgage with a current interest rate of 3.21% will pay $ 433 per month in principal and interest per $ 100,000. This means that on a $ 750,000 loan, the monthly principal and interest payment would be approximately $ 3,248, and you would pay approximately $ 419,138 in total interest over the life of the loan.

5/1 arm

The average interest rate on a5 / 1 ARM stands at 2.79%, higher than the 52 week low of 2.83%. Last week, the average rate was 2.79%.

Borrowers with an ARM 5/1 of $ 100,000 with a current interest rate of 2.79% will pay $ 410 per month in principal and interest.

Calculate your mortgage payment

Mortgages and mortgage lenders are often a necessary part of buying a home, but it can be difficult to figure out what you are paying and what you can actually afford.

You can use the mortgage calculator to estimate your monthly mortgage payment based on factors such as your interest rate, purchase price, and down payment.

Collect these data points to calculate your monthly mortgage payment:

  • Interest rate
  • Deposit amount
  • House price
  • term of the loan
  • Taxes
  • Assurance
  • HOA fees

What you can afford depends on a number of factors including your income, debt, debt-to-income ratio, down payment, and credit rating.

You should also factor in closing costs, property taxes, insurance costs, and routine maintenance expenses.

The type of loan you choose can also affect the amount of home you can afford. When shopping for a loan, consider whether a conventional mortgage, FHA loan, VA loan, or USDA loan is best suited to your particular situation.

Why should I get pre-approved for a mortgage?

Getting pre-approved for a mortgage can help you during the home buying process. Pre-approval of a mortgage is an offer from the lender to lend you money. It can help you appear more attractive to sellers.

To get pre-approved for a mortgage, start by gathering documents. You will need your Social Security card, W-2 forms, pay stubs, bank statements, income tax returns, and any other documents required by your lender.

The lender you select will walk you through the pre-approval process.

Sources

1/ https://Google.com/

2/ https://www.forbes.com/advisor/mortgages/mortgage-rates-10-13-21/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]