Mortgage Rates for Monday, April 24, 2023 in a Minute

Design by Diana Walton- Houston First Time Home Buyer Specialist

Good morning, for today, Monday, April 24, 2023, the national average mortgage rate for a 30-year fixed loan is 6.89%. If you already own a home and looking to refinance, the current 15-year fixed refinance rate is 6.33% and the 30-year fixed refinance rate is 7.03%.

Meanwhile, the national average adjustable mortgage loan rates for:

• 5.1 ARM is   5.81%     APR  7.51%

• 7/1 ARM is   6.28%     APR  7.44%

• 10/1 ARM is 6.60%     APR 7.38%

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

Image by Diana for First Home Houston