Mortgage Rate Update
Mortgage rates continue to get worse on us. Here is a rate chart for today.
What does that mean for a rate though? Here is a common scenario for you to look at. 740+ credit score, 20% down, purchase, conventional loan.
4.5% Rate (4.621% APR)
I always tell people that they can have any rate that they want. I priced this scenario with no extra cost for the rate, and no lender credit. If you wanted to pay about 1% of the loan amount towards a discount in the rate, you'd be looking at 4.375% (4.442% APR).
Each scenario will be different. Please let me know if you'd like me to run a scenario for you!