Mortgage Rate 2/3/2016

Mortgage rates fell this week. For the 30-year fixed mortgage, the rate settled at 3.5% after falling 11 basis points from last week. Rates fell throughout last week and rise on Sunday to 3.47%. This was the lowest they’ve been since 2013, before creeping up to the current point. Friday’s monthly job report will give a better indication of where the market will move.  

The 15-year fixed mortgage settled on 2.72%, and for 5/1 ARMs, the rate was 2.73%. 

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