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Mortgage rates crept higher across the board this week, with the average 30-year fixed rate increasing, slightly to 6.81%, according to the Mortgage Bankers Association.
Mortgage interest rates are forecasted to decline somewhat throughout 2024, as the Federal Reserve projects rate cuts will begin sometime this year. Here are the current mortgage rates, as of Jan. 10:
- 30-year fixed: 6.81% with 0.61 points (previous week: 6.76% with 0.61 points).
- 15-year fixed: 6.41% with 0.55 points (previous week: 6.26% with 0.73 points).
- .5/1 ARM: 6.17% with 0.56 points (previous week: 5.71% with 0.59 points).
- 30-year jumbo loans: 6.98% with 0.43 points (previous week: 6.86% with 0.41 points).
- 30-year FHA loans: 6.56% with 0.84 points (previous week: 6.51% with 0.86 points).
Wyoming homebuyers can get low interest rates as well as help with down payments and closing costs from these Wyoming Community Development Authority (WCDA) programs.
Available to: Wyoming first-time homebuyers or those who have not owned an interest in a primary residence in the past three years and are purchasing a primary residence on 10 acres or less.
- Income limits: Vary by county and household size (see income limits).
- First-time homebuyers only?: No.
- Benefits: Low fixed interest rates. Buyers can also use the Homestretch Down Payment Assistance program.
- Available to: Wyoming first-time homebuyers or those who have not owned an interest in a primary residence in the past three years and are purchasing a primary residence on 10 acres or less.
- Income limits: Vary by county and household size (see income limits).
- First-time homebuyers only?: No.
- Benefits: Offers financing for purchase and rehabilitation of a home in one loan.
- Available to: Wyoming homebuyers using First-Time Homebuyer or Spruce Up programs with a minimum credit score of 620 and a minimum $1,500 borrower contribution.
- Income limits: Vary by county and program you’re using the assistance with.
- First-time homebuyers only?: No.
- Down payment and closing cost assistance: Up to $10,000 for down payment, closing costs and prepaids assistance in the form of a 0% interest rate loan with no monthly payments, due upon sale of the home, refinance or 30-year maturity.
- Available to: Wyoming homebuyers with a minimum credit score of 620 who are purchasing a principal residence with 10 acres or less with the intention of living there for at least one year.
- Income limits: Vary by county (see income limits).
- First-time homebuyers only?: No.
- Benefits: Can be used in conjunction with the Amortizing Down Payment Assistance program or the Mortgage Credit Certificate program.
- Available to: Wyoming homebuyers using HFA Preferred program with a minimum credit score of 620 and a minimum $1,500 borrower contribution.
- Income limits: Vary by county and program you’re using the assistance with.
- First-time homebuyers only?: No.
- Benefits: Up to $10,000 for down payment, closing costs and prepaids assistance in the form of a 10-year, fixed interest rate loan that is fully amortizing.
- Available to: Wyoming first-time homebuyers or those who have not owned an interest in a primary residence in the past three years and are purchasing a primary residence.
- Income limits: Vary by county and household size (see income limits).
- First-time homebuyers only?: No.
- Benefits: A federal tax credit to the homebuyer’s federal tax liability based on a calculation using mortgage interest paid.
U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.
To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.
The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.
To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.
To recap, here are the picks:
Best Wyoming Mortgage Lenders of 2024
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