Today’s mortgage rates in a minute

As you may already know, mortgage rates have been holding relatively steady over the past few days as reflective in  today's rates. Wednesday, January 4th, 2023, the national mortgage rate for a 30-year fixed mortgage loan now sit at 6.60%, up 3 basis points from the same time last week. Meanwhile, the national interest rate for:

• 7.1 ARM rate is 5.73%.

• 5/1 ARM is 5.51%

• 10/1 ARM is 6.16%.

Remember, don’t forget to shop around for your mortgage loan before committing to one. In addition, the interest you see, may not be the interest rate you get. Please remember there are several factors that goes into determining your rate. These factors includes:

1. Credit score

2. Loan type

3. Term

4. Property location

5. Down payment

6. Loan amount and rate type

As always, thank you for stopping by. Until next time...Diana

Image Created by Diana for First Home Houston