Complacency Over Low Mortgage Rates

 

Mortgage rates are still historically low, giving buyers more options, which is good news for landscape professionals.
Courtesy of Home Mortgage Rates

The best par 30 year fixed mortgage rates remain in the 4 percent to 4.25 percent range for well-qualified consumers. Some lenders still go as low as 3.75 percent if the borrower is willing to pay points, but these offers are getting harder to come by.

The best par 15 year mortgage rates are in a range between 3.5 percent and 3.875 percent. Five-year ARMs are being quote near 3 percent.  Mortgage Rate Disclaimer:  Loan originators will only be able to offer these rates to borrowers who have perfect credit profiles and enough equity in their home to qualify for a refinance. If the terms of your loan trigger any risk-based loan level pricing adjustments, your rate quote will be higher.

If you do not fall into the perfect borrower category, make sure you ask your loan originator for an explanation of the characteristics that make your loan a riskier investment. (investment properties and second homes are a riskier investment).

– Courtesy of Mortgage News Daily