Subscribe to our mailing list

* indicates required Email Address * First Name Last Name Opt-In Date Location

St. Louis Real Estate Search

 

Mortgage Interest Rates Hit Record Low

St Louis Interest RatesMortgage interest rates keep falling and this week the interest rate on a 15 year fixed-rate mortgage hit a new record low of 2.8 percent, according to a weekly national survey conducted by Bankrate.com.  Interest rates on a 30-year fixed rate mortgage averaged 3.57 percent this week, a four month low.

As the Bankrate report below for St. Louis shows, St. Louis interest rates are even better:

St Louis Interest Rates

According to Bankrate.com, the last time mortgage rates were above 5 percent was Apr. 2011 when the interest rate on a 30-year fixed-rate loan was 5.07 percent.  At that time a payment on a $200,000 loan would have been $1,082.22 and today, at 3.57 percent, the payment would be $905.92 a savings of $176 per month.

SURVEY RESULTS

30-year fixed: 3.57% — down from 3.61% last week (avg. points: 0.31)
15-year fixed: 2.80% — down from 2.85% last week (avg. points: 0.28)
5/1 ARM: 2.65% — down from 2.66% last week (avg. points: 0.26)

Comments are closed.