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Interest Rate Snapshot

Mortgage Rates

Happy New Year!!

Let's kick off 2024 with a snapshot of mortgage interest rates.  This information is provided by M&T Bank, our trusted mortgage partner.  The last 2 weeks of December were an uneventful end to a very eventful year in mortgage rates.  On low trading volume during the holidays and a lack of new data, rates have drifted slightly higher. The markets have started 2024 in a wait-and-see stance.   Important benchmarks that will dictate the trend of mortgage rates for 2024 will continue to be the unemployment data and inflation data.

Sample M&T Mortgage Interest Rates – 1/4/2024 - $1,000,000 Purchase Mortgage – 25% down payment, 740 Credit, Single Family Residence, 45-Day Lock

 

  • Primary Residence
    • Jumbo 30-Year Fixed: 6.375%
      • (6.412% APR)
    • Jumbo 10/6 ARM: 6.125%
      • (6.923% AP)
    • Jumbo 7/6 ARM: 6%
      • (7.174% APR)
    • Jumbo 5/6 ARM: 5.875%
      • (7.36% APR)
  • Second Home
    • Jumbo 30-Year Fixed: 6.375%
      • (6.412% APR)
    • Jumbo 10/6 ARM: 6.125%
      • (6.923% AP)
    • Jumbo 7/6 ARM: 6%
      • (7.174% APR)
    • Jumbo 5/6 ARM: 5.875%
      • (7.36% APR)

*For scenario-specific rates, please reach out to our contact below.  Rates change every business day*

 

Zachary P. Smith Private Mortgage Banker NMLS# 1179591

M&T Bank | Mortgage Division, One Post Office Square | Boston, MA 02109

802-558-3399 zsmith2@mtb.com

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