Rates continue at low levels as concerns have grown that the economic recovery could falter in the second half of the year. The economy continues a slow recovery evidenced by the unfavorable jobs report, auto sales and manufacturing activity decreases, drop in home sales due to the end of the Federal Tax Credit and stocks down 10% for the second quarter, all causing low consumer confidence.Now for the good news...rates are at the lowest level in over 50 years!
Conforming 30 Year Fixed (under $417,000) are at 4.375%, High Balance ($417,000 to $729,750) are at 4.5% and Jumbo at 6%. Conforming 15 Year Fixed are especially low at 3.75%, 4.0% and 5.75%, respectively.
