Posted on: 07th Jan, 2008 05:11 pm
what is the best rate for mrtgage right now?
Hi Farnaz,
Welcome to the forum.
Now I think you can get 15 year fix rate mortgage at almost 5.25 to 5.50 percent interest rate. You may get even a better rate but have shop a bit for that.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
Now I think you can get 15 year fix rate mortgage at almost 5.25 to 5.50 percent interest rate. You may get even a better rate but have shop a bit for that.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Best rate for what---a owner occupied, second home or investment property?
Best rate doesn't always equate to best loan program for your needs---case in point, you can still get an option ARM with a min. interest rate ranging from 1.5%~2.00%, but I wouldn't recommend it to anyone but the most savvy...
PAR rates for full doc/A borrowers can be had at:
15 YR FXD @ 5.00%
30 YR FXD @ 5.50%
Regards,
Scott Miller
Best rate doesn't always equate to best loan program for your needs---case in point, you can still get an option ARM with a min. interest rate ranging from 1.5%~2.00%, but I wouldn't recommend it to anyone but the most savvy...
PAR rates for full doc/A borrowers can be had at:
15 YR FXD @ 5.00%
30 YR FXD @ 5.50%
Regards,
Scott Miller
My apologizes---that was my post above...
Regards,
Scott Miller
Regards,
Scott Miller
A 30 year mortgage is the way to go right now since fixed rates are almost as good as adjustable rates and sometimes even lower depending on the perameters. For a single family home with excellent credit, the best 30 year fixed rate as of today is 5.375 edited to remove solicitation
ok ppl the best rate is to pay with cash
there is no best rate
its all dependent on individual case
I can get you a 4.75 on a 30 yr fixed today but the question is do you want to pay 5% of the loan ammount in discount points?
And who is to say that tomorow rates wont be better no matter what you get today.
The best rate/program/deal is the one that makes sence and is affordable to you.
If you can get 5 million dollar loan at 3% is it a great rate? Sure but can you make the mortgage payment?
Its a case by case basis. You will pay exactly the same ammount of money on a 30 yr loan at 5% rate as you will on a 5yr loan at 30% rate. Rate doesnt do anything its just one of the factors that comes into play.
there is no best rate
its all dependent on individual case
I can get you a 4.75 on a 30 yr fixed today but the question is do you want to pay 5% of the loan ammount in discount points?
And who is to say that tomorow rates wont be better no matter what you get today.
The best rate/program/deal is the one that makes sence and is affordable to you.
If you can get 5 million dollar loan at 3% is it a great rate? Sure but can you make the mortgage payment?
Its a case by case basis. You will pay exactly the same ammount of money on a 30 yr loan at 5% rate as you will on a 5yr loan at 30% rate. Rate doesnt do anything its just one of the factors that comes into play.
thanks for the sanity eugene...i agree that the best rate is the rate that works for the specific person on the specific transaction.
