After 4 weeks of rising costs, NJ HARP Mortgage Rates finally recede.
Click here to get today’s NJ HARP Mortgage Rates.
According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate dropped 7 basis points to 3.59% this week. Depending on where you live, however, you may find that your offered mortgage rates varies. Freddie Mac’s “published rate” is a national average based on a survey of more 125 banks.
The NJ HARP Mortgage Rates you receive as an individual vary by bank, and some banks don’t offer the HARP program at all.
One year ago, the 30-year fixed rate mortgage rate averaged 4.22%. Today, it averages 3.59%. This 63 basis point difference yields a $36 monthly savings per $100,000 borrowed. On a $250,000 mortgage, that’s $1,080 in savings per year.
NJ HARP Mortgage Rates are usually slightly higher depending on the loan to value and other factors.
If watched NJ HARP Mortgage Rates rise through August and felt as if you missed the market bottom, consider this week your second chance. The 30-year fixed rate mortgage does remains above its all-time low, but this week’s drop in rates in encouraging. It’s the biggest one-week drop in rates in more than 3 months. Click here to get today’s NJ HARP Mortgage Rates with No Points.
Talk to your Hoboken Mortgage Broker about how today’s NJ HARP Mortgage Rates can work for your budget.
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