These are historically low rates.
30 YEAR CONVENTIONAL — 4.750% *$150,000 loan, 20% down, 740 credit score

15 YEAR CONVENTIONAL — 4.125% *$150,000 loan, 20% down, 740 credit score

5/1 ARM — 3.500% *$150,000 loan, 20% down, 740 credit score

30 YEAR FHA — 4.500% *$150,000 loan, 3.5% down, 660 credit score

30 YEAR VA — 4.750% *$150,000 loan, 0 down, 660 credit score

30 CHFA — 5.000% *150,000 loan, $1,000 out of pocket, 660 credit score

*All rates are subject to change without notice.

Mortgage rates dipped back below 5% this month due largely in part to the European debt crisis. As confidence in the value of the Euro eroded, more investors chose the U.S. dollar instead. With more demand for dollars, the cost of debt (interest rate) dropped. This event has also shown the global recovery is not free-and-clear of roadblocks to complete recovery. However, experts still anticipate rates will increase to between 6% and 6.5% by the end of the year. As the recovery gains increasing traction, the Federal Reserve will need to increase rates to prevent inflation.