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Current Mortgage rates?
We were just quoted for a rate of 5% rate with Wells Fargo(no points). I really thought the interest rates were lower now, at least less than 5. Our home loan is much less than we were approved for and our home price is probably 100K less than what we can comfortably afford, our credit is very good, and we are first time homeowners. Should we lock in at this rate? Is this reasonable?
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Posted 7/9/10 6:19 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
julz33
i run for bacon
Member since 5/05 20584 total posts
Name:
julz
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Re: Current Mortgage rates?
we locked in at 4.5% with BFCU a few days ago.
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| Posted 7/9/10 7:17 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Current Mortgage rates?
shop around - u can get lower...
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| Posted 7/9/10 8:21 PM |
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Andrewz00
Look! I changed it!
Member since 4/10 1789 total posts
Name:
Andrew
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Re: Current Mortgage rates?
we have been watching the rates drop over the past few weeks.... right now i can lock a 4.5% (no points)..... but im "playing the market" and giving it another week.... or two...
same boat... very good credit, 100-120K less then we can comfortable afford.... etc... and with WF.... i would at least question why it isnt lower....
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| Posted 7/10/10 12:59 AM |
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Re: Current Mortgage rates?
I would ask your Mortgage broker why?
Mid to high 700's is excellent credit with the best rates.
Wells is usually very competitive.
Their are also some Mortgage companies that support LIfamilies they may be a good choice to check out.
Good Luck
Arthur
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| Posted 7/10/10 1:44 AM |
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