Mortgage Rates Fall on Employment News - CT Mortgage Rate Snapshot

Freddie Mac's weekly mortgage rate survey was released earlier this morning which indicated interest rates fell on the heels of a lack luster jobs report. The 30 year fixed mortgage rate national average moved from 4.60% to 4.51% with .7 points. The 15 year mortgage rate average slid from 3.75% to 3.65% with .6 points. Frank Nothaft, Freddie Mac VP and Chief Economist, noted that "Long-term bond yields and mortgage rates fell this week following a weak employment report. The economy added 18,000 jobs in June, well below the market consensus forecast, and the unemployment rate rose to 9.2 percent, the highest since December 2010. In addition, employee wages stagnated. These factors may lead to less consumer spending, which in turn, reduces the threat of inflation in the near term."

On the bright side, mortgage rates remain extremely attractive. Below is a snapshot from current mortgage rates from various lenders and brokers serving Connecticut listed on ForTheBestRate.com today. Please note that rates and fees are subject to change without notice. Please contact the various mortgage companies directly for customized quotes.

30 Year Rates
Quicken Loans - 4.625% Note Rate - 0 Points - $2,303 Fees in APR - 4.725% APR
Integrity Home Loans - 4.375% Note Rate - 1 Point - $0 Fees in APR - 4.46% APR
Horizon Financial - 4.375% Note Rate - 0 Points - $495 Fees in APR - 4.396% APR
Nationwide Advantage Mtge Co. - 4.500% Note Rate - 0 Points - $1412 Fees in APR - 4.561% APR

15 Year Rates
Quicken Loans - 3.875% Note Rate - 0 Points - $1553 Fees in APR - 3.990% APR
Integrity Home Loans - 3.750% Note Rate - 1 Point - $0 Fees in APR - 3.898% APR
Horizon Financial - 3.625% Note Rate - 0 Points - $495 Fees in APR - 3.661% APR
Nationwide Advantage Mtge Co. - 3.750% Note Rate - 0 Points - $1412 Fees in APR - 3.854% APR

7 Year Adjustable Mortgage Rates
Horizon Financial - 3.375% Note Rate - 0 Points - $495 Fees in APR - 3.395% APR
EverBank - 3.500% Note Rate - 0 Points - $652 Fees in APR - 3.526% APR
Loan Depot - 3.250% Note Rate - 0 Points - $1595 Fees in APR - 3.314% APR
Lending Tree Loans - 3.625% Note Rate - 1.5 Points - $1500Fees in APR - 3.790% APR