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Program Rate APR
30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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Current Mortgage Rates Portend Upward Future Trend

Relevant market data disclosed a rise in current mortgage rates as of last week’s end. Despite slightly decreased mortgage rates that coincided with the opening of February 27, 2012, many market observers have cite several emergent factors as cause for concern that mortgage rates may rise again before the current week’s end.

Chief among them are the recalcitrant U.S. economic recovery and recent short-term Greek debt crisis resolution.

Ostensible agreement among European nations as to outstanding Grecian economic obligations has failed to quash widespread cynicism about its true degree of finality in impacting Greece’s persistent budgetary issues. This factor is relevant, as it is a primary cause of recently subdued interest rates.

Even if temporary, this solution portends to open the floodgates for imminent rate increases. Below is a sample listing of popular Google mortgage rates:

Mortgage Product Mortgage Rates APR

30 Year Fixed Conventional Mortgage 3.625% 3.741%
20 Year Fixed Conventional Mortgage 3.500% 3.661%
15 Year Fixed Conventional Mortgage 3.125% 3.331%
30 Year Fixed FHA Mortgage 3.625% 4.975%
15 Year Fixed Conforming Jumbo 3.500% 3.670%
30 Year Fixed Conforming Jumbo 4.375% 4.474%
5/1 Adjustable Rate Mortgage 2.375% 2.752%
5/1 Adjustable Rate Conforming
Jumbo Mortgage 2.750% 2.711%

Per most recent Freddie Mac published data, average rate of interest imposed on 30-year fixed home loan borrowers was 3.95 percent as of last week’s end. This figure represents a one-week increase of 3.87 percent. Prior to the rise, fixed interest rates for 30-year mortgage loans were at a consecutive three-week historical low. Average mortgage rates for 15-year fixed-interest loans also rose to 3.19 percent as of last week’s conclusion.

Expert analysts posit that continued hovering of prevalent interest rates at historically low levels have had little positive impact on the nation’s sluggish housing markets. This phenomenon is purportedly due to the vast majority of eligible buyers’ prior exploitation of temporary deflation of current mortgage rates.

Following is a summary of interest rates offered by several major lenders via Google mortgage rates and elsewhere as of February 27, 2012:

Loan type Interest rate APR

Bank of America 30-year fixed 4.125 4.288
15-year fixed 3.500 3.728
7/1 ARM 3.250 3.462
5-year ARM 3.000 3.398
Wells Fargo 30-year fixed 3.750 3.916
15-year fixed 3.125 3.417
30-year FHA fixed 3.750 3.998
5-year ARM 2.250 3.145
Citibank 30-year fixed 4.125 4.409
15-year fixed 3.375 3.940