Call: 804-784-4364
Current Mortgage Rates: Richmond, VA
4.375% (4.421% APR) 30yrs
3.875% (3.915% APR) 15yrs
as of 02/15/19
Read More

Building on Trust™

RatePro

Mortgage Blog

Jun 30

Why are the Mortgage Rates rising with Unemployment being so low?

Mortgage rates jumped this week as investors put aside their concerns about a potential Greek debt default and became somewhat more confident in the U.S. housing market.

The benchmark 30-year fixed-rate mortgage rose 5 basis points this week, to 4.71 percent. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.43 discount and origination points. One year ago, the mortgage index was 4.75 percent; four weeks ago, it was 4.69 percent.

The benchmark 15-year fixed-rate mortgage rose 3 basis points, to 3.86 percent. The benchmark 5/1 adjustable-rate mortgage rose 9 basis points, to 3.45 percent.

Add CommentAdd Comment | Views: 3054 | Read more

Mortgage Rate Meter


Testimonials
 
914817
' We found Rate Pro mortgage after working with several other mortgage companies all of whom failed to grasp our complicated financial situation and ... more '
5.0/5.0
by zac5
890518
' We just purchased our first home and went through RatePro Mortgage to do our lending. I have worked in both big and small retail banks so I have seen ... more '
5.0/5.0
by zuser20140424054854787
838849
' This was my 3rd home purchase and 3rd different mortgage company, and Rick and his staff at RatePro were by far the best. Rick was timely, honest, ... more '
5.0/5.0
by jweimer1968
RatePro