Current Mortgage Rates: Richmond, VA
2.875% (2.938% APR) 30yrs
2.375% (2.381% APR) 15yrs
as of 01/25/21
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Building on Trust™


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.

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