Today Rates 12/2/2024

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Lots of job data this week that could impact the direction of mortgage rates this week and next. On Tuesday, we get the JOLTS report (Job Openings and Labor Turnover Survey). On Wednesday, we get ADP’s employment report and on Friday we get the BLS report (Bureau of Labor Statistics). A rise in the unemployment rate will give the FED the ammunition they need to cut the Fed Fund Rate by another .25% at the December 18th Fed Meeting. If the unemployment rate is left unchanged or moves lower, this will push mortgage rates higher and the chances of a December rate cut are pretty much off the table.


Below are Market Rates for a Purchase Transaction, as of: 12-2-24

Interest Rates vary depending on a variety of factors such as: Property Type, Occupancy Type, Credit Score and Down Payment, other factors may apply. Please review and let me know if you have any question. Please feel free to share as well, thank you!


Conventional:

6.250% - 30 Yr. Fixed Rate with an APR of 6.380%

6.250% - 25 Yr. Fixed Rate with an APR of 6.396%

5.990% - 20 Yr. Fixed Rate with an APR of 6.160%

5.625% - 15 Yr. Fixed Rate with an APR of 5.837%

5.625% - 10 Yr. Fixed Rate with an APR of 5.926%


Government:

5.625% - FHA 30 Yr. Fixed Rate with an APR of 5.912%

5.625% - VA 30 Yr. Fixed Rate with an APR of 5.963%


JUMBO & Alt Doc:

6.625% - JUMBO 30 Yr. Fixed Rate with an APR of 6.669%

7.125% - Asset Only 30 Yr. Fixed Rate with an APR of 7.170%

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