United Wholesale Mortgage, the number one wholesale mortgage and overall purchase lender in the United States, announced rates as low as 1.875% for 15-year fixed mortgages for purchases and refinances are available exclusively through independent mortgage brokers.
The 15-year fixed product is the latest in a series of releases recently announced by UWM including Conquest conventional loans offering rates as low as 2.5 percent and Conquest VA offering rates as low as 2.25 percent for both purchases and refinances.
Mortgage rates decreased this week after seeing a small increase last week, according to Freddie Mac's Primary Mortgage Market Survey. The 15-year fixed-rate mortgage averaged 2.51%, down from 2.54% last week. A year ago, the 15-year fixed-rate mortgage averaged 3.20%, according to the survey
“United Wholesale Mortgage is proud to provide some of the best rates, service and technology to borrowers exclusively through independent mortgage brokers while closing loans in 15 days or less,” said Mat Ishbia, president and CEO. “We’re proud to be offer great rates for borrowers for 15-year mortgages just like we have been on our 30-year mortgages as well.”
UWM was the first lender to drop rates as low as 2.5 percent for 30-year fixed and 2.25 percent on VA loans. Qualifying borrowers can lock in this rate for a limited time by reaching out to their local independent mortgage brokers. Ishbia added in a follow-up to National Mortgage Professional, “15 year-fixed rate mortgages have been in the mid to low two’s before UWM lowered it to 1.875 percent. They were always great rates, but now that we’re in the one’s which is a really unbelievable number.”