Mortgage Rates for Connecticut are about the Same as other States

• Published: December 27, 2010 by Umma Queenan Comments (0)

Mortgage rates for the state of Connecticut for today are just one basis point up from yesterday. A basis point is one-hundredth of one percentage point. It looks like the state of the loan industry is peaceful for this time of the year. This is in stark contrast to what some banks have been up to lately. However, Connecticut is currently undergoing some economic pain over the lack of pensions and health insurance for their state workers. This will hopefully not affect those who have fixed rate mortgages in Connecticut.

Connecticut mortgage rates are not that much different than other parts of the United States. Currently, the rate is 4.69 percent for the 30 year fixed rate mortgages. The national average is 4.72 percent. The highest looks to be Massachusetts with a rate of 4.89 percent. The Connecticut rate is up to one basis point from last week’s average Connecticut rate of 4.68 percent.

The mortgage rates for a fifteen year fixed rate mortgage have risen steadily. The national rate was 4.07 percent a month ago and now is 4.26 percent for this month. Other mortgage rates are also rising. The thirty year jumbo rates are at 5.39 percent and reflecting a rise of ten basis points. The apathetic and lackadaisical attitudes that American have toward the recovery of the housing market are being exacerbated by these small hikes in mortgage rates. It is hard enough to pay off a house with the price of everything else going up as well.

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