According to Bankrate’s latest survey of the nations largest lenders: On Monday, February 01.2021, 30-year fixed mortgage rate is at 2.880% with an APR of 3.190%. The average 15-year fixed rate is at 2.350% with an APR of 2.690% The 5/1 adjustable -rate mortgage (ARM) rate is 3.000% with an APR of 4.000%. This is a great time to become a homeowner while rates are historically low, refinance rate are even lower, coming in as low as 1.894% APR on a 15-year fixed.
While we will continually keep you informed of these historically low rates, they will not remain like this forever, so if you are ready to move forward on making that dream of home ownership a reality now is the time to apply.