Mortgage Rates for Monday June 26, 2023 in a Minute
Design by Diana Walton- Houston First Time Home Buyer Specialist
Good morning, for today, Monday, June 26, 2023, the national average:
30-year fixed mortgage rate is 7.06%,
30-year fixed FHA loan rate is 6.27%
30- year fixed VA loan rate is 6.54%.
30- year fixed Jumbo rate is 7.11%
Meanwhile, the national average adjustable mortgage loanrates for:
5.1 ARM is 6.08% APR 7.98%
7/1 ARM is 6.29% APR 8.03%
10/1 ARM is 6.52% APR 8.00%
Keep in mind, mortgage rates change daily, even hourly, based on market conditions. 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. Also remember, there are several factors that goes into determining your rate. These factors include but not limited to:
Credit score
Loan type
Term
Property location
Down payment
Loan amount and rate type
FYI: interest rate represent the cost of borrowing the principle. It does not include any fees or additional cost. While the Annual Percentage Rate (APR) represent not only the cost of borrowing the principle, but it also includes other fees as well. For this reason, interest rates are usually advertise at a lower rate, while the APR, is typically higher.
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
