We've seen no changes in the Rochester area mortgage rates. Hopefully that means no more increases and maybe some reductions in Rochester Mortgage Rates. The current Rochester Mortgage Rates are:
30 year - 0.0 points - 5.75%
30 year - 1.75 points - 5.25%
25 year - 0.0 points - 5.75%
25 year - 1.75 points - 5.25%
20 year - 0.0 points - 5.75%
20 year - 1.125 points - 5.375%
15 year - 0.0 points - 5.0%
15 year - 1.5 points - 4.625%
10 year - 0.0 points - 4.75%
10 year - 1.5 points - 4.375%
Even though the mortgage rates are a little higher than they've been in the last few months they are still extremely low compared to historical averages. It is still a great time to purchase a home, especially when you consider the $8,000 First Time Home Buyer Tax Credit. Homes in Rochester are very affordable. There is very little reason to continue renting.
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