Jim is a 20-year veteran in Mortgage Loan Originations as the Chief Lending Officer at InstaMortgage (NMLS 1035734). He also specializes in purchase fundings and bridge loan solutions and has consistently been ranked in the top 100 Mortgage Loan Officers nationally.
As of April 17, the average annual percentage rate (APR) for a 30-year fixed mortgage is 6.89%. This is down slightly from 6.81% the week prior and continues a pattern of modest decreases since early March. The average mortgage interest rate is more than double the 3.12% rate from a year ago. M
If you can’t make both payments, you will fall behind very quickly. You can lose everything—literally.