Mortgage Rates for Friday, March 24, 2023 in a Minute

Money
Written By Diana

Hello and welcome to Houston First Time Home Buyers Edition, where we provide useful information to help Houston first time home buyers make the most informed decision when it comes to buying, decorating, and maintaining their first home.

For today, Friday, March 24, 2023, the national average mortgage rate for a 30-year fixed mortgage loan is 6.79%. Meanwhile, the national average mortgage rates for:

  • 5.1 ARM is 5.73%     APR 7.31%

  • 7/1 ARM is 6.13%    APR 7.17%

  • 10/1 ARM is 6.45%  APR 7.09%

Don't forget to shop around for your mortgage loan before committing to one. In addition, the rates you see, may not be the rate you get. Please also remember, there are several factors that goes into determining your rate. These factors include but not limited to:

  1. Credit score

  2. Loan type

  3. Term

  4. Property location

  5. Down payment

  6. Loan amount and rate type

As always, thank you so much for stopping by. Remember, if you are thinking of purchasing your first home, please contact us. We are here to help. We have been helping Houston first time home buyers since 2011 and we can help you. I hope you have an amazing day. Until next time...Diana

Diana

https://houstonfirstimehomebuyersedition.com
Previous

5 Ways Houston First Time Home Buyers Can Lower Their Debt-to-Income Ratio
Next

Houston First Time Home Buyers Loan Documents Reminder