Today’s Nevada 30 year fixed rate mortgages are at 4.625% which remain the same as last week. Nevada 15 year fixed rate mortgages improved today with a decrease of .125% and are at 3.875%. Nevada 5/1 adjustable rate mortgages remain the same at 3.125%. Nevada borrowers with good credit can still lock in these competitive mortgage rates with 0.7 to 1% origination fee.

FHA 30 year fixed rate mortgage loans are steady at 4.500% and 4.000% for Nevada FHA 15 year fixed rate mortgage loans. Nevada FHA 5/1 adjustable rate mortgages saw an increase today of .125% and are at 3.125%. FHA mortgage loans are still popular even though FHA closing costs (APR) tend to be higher than conforming mortgage loans due to various FHA fees and the upfront mortgage insurance premium due at closing.

Nevada jumbo mortgage loans are those that are in excess of the conforming loan limit which is $417,000 across most parts of the country and $729,250 in higher cost areas. Today’s Nevada 30 year fixed jumbo mortgage loans are at 5.125% and 4.750% for Nevada 15 year fixed jumbo mortgage loans. Nevada 5/1 adjustable rate mortgages are at 3.875%. These are the best jumbo mortgage loans available to Nevada borrowers with 0.7 to 1% origination fee who have maintained outstanding credit.

MBS prices (mortgage backed securities) are down -5/32 after starting the day up +1/32. Mortgage rates are affected by MBS prices and move in the opposite direction. With investors looking ahead to this weeks economic agenda, today’s markets are volatile and uncertain.

Nevada has seen an increase in new home sales according to builder reports. Stabilizing of the Nevada housing market and low Nevada mortgage rates makes purchasing or refinancing a home very attractive for Nevada residents.

FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at a standard .07 to 1 point origination.

Nevada Mortgage Rates

plummeted 24.5 percent in the third quarter of 2009. That’s the steepest decline of any state and more than 6 times the national average. Nevadans are losing their homes to foreclosure at a rate that is four times the national average.”

Well, they can keep calling it a bad market if they want, but while they’re focusing on these ‘signs’ – they should be careful not to get run over by the people rushing to take advantage of this ‘bad’ Nevada market.  No, they don’t know anything more then you, they just recognize the ‘signs’ differently.

“Foreclosure at a rate four times the national average” to them means ample inventory from which to choose.  When a study comes forward indicating it’s the “most undervalued market in the country”, that means substantial savings now and potentially hefty value increases down the road.

This is a stampede (slight) of informed buyers.  They pay attention to signs in the market, listen to advice from successful professionals and understand the importance of timing.  With historically low interest rates and possible tax credits, they are also aware of opportunity when they see it and they recognize when it’s a good time to make a move.  By being educated and opportunistic, they see these same bad signs of Nevada’s market as good (if not great) signs of a market in which to buy.

Over the next several weeks we will be hearing from Lenders, Realtors and other Real Estate professionals flourishing in Nevada.  Follow along to see if they might help you understand this ‘bad’ real estate market differently and see why and how so many are taking advantage of it.