National mortgage rates plummet to 13-month low
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According to Bankrate, mortgage rates fell to a 13-month low this week just as home-buying season kicks off.
The benchmark 30-year fixed-rate mortgage fell this week to 4.49 percent from 4.62 percent, according to Bankrate’s weekly survey of large lenders.
Over the past 52 weeks, the 30-year fixed has averaged 4.74 percent. This week’s rate is 0.25 percentage points lower than the 52-week average.
The 15-year fixed-rate mortgage fell to 3.83 percent from 4.00 percent.
The 5/1 adjustable-rate mortgage fell to 4.15 percent from 4.27 percent.
The 30-year fixed-rate jumbo mortgage fell to 4.43 percent from 4.54 percent.
At the current 30-year fixed rate, you’ll pay $506.09 each month for every $100,000 you borrow, down from $513.84 last week.
Always be sure to remember that mortgage Rates change on a daily basis and can vary depending on your unique situation.
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