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What are the Current Mortgage Rates

Current Mortgage Rates

Current mortgage rates are an every changing area of the financial world. This is partially because lenders are more apprehensive about lending out money since the economic downturn. When looking for current mortgage rates, it is important to know what type of mortgage one is looking for. Common mortgage options are 30 year fixed rates, 15 year fixed rates, adjustable mortgage rates, and various others. Furthermore, it is important to realize that there are many different lending companies, so current mortgage rates are at a competitive level from one business to the next. This can help in narrowing down companies that are more flexible and affordable regarding current mortgage rates. Regarding current mortgage rates for a 30 year fixed mortgage; the current percentage of APR has been anywhere in between 4.4% to 4.6%. Again, this is a wide range regarding percentage rates, but this is how the market works. Depending on lender status and location, the rates vary. This is without factoring in credit score status on an individual basis; these are the current numbers being reported as an overall percentage rating. In the area of current mortgage rates for a 15 year fixed mortgage, the percentage rating is in between 3.9% to 4.1%. The adjustable mortgages have a wider range of rates, depending on the span of years the mortgage is taken out. The current mortgage rates regarding adjustable mortgages has been anywhere in between 3.2% to 3.8%. Overall, there has been a trend of decreasing rates with the last few months.

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