Interest Rates Hit New Lows
Mortgage interest rates are amazingly low. I keep saying that they have to go up…but they keep going down.
I got these numbers this morning from Bryan Scoresby at Wells Fargo.
These are some of the numbers. Conventional 30 yr fixed= 4.375%, Conventional 15 yr fixed=3.75%, FHA and VA 30 yr fixed=4.5%, AHFC First Time Home Buyer Tax Exempt 30 yr fixed=4.25%
Interest Rates for Wells Fargo products are quoted based on a 60 day lock period. Rates above assume a 740 credit score without any adjusters.
AHFC rates can be locked up to 180 days in advance for new construction. 5*+ new construction can get .375% off the rate for the first $200,000.
It’s important to realize that rates are quoted for that day only and there are other fees involved. But still these are good rates across the board.
Most quality lenders can give your these rates.
It’s hard to believe these rates. When I first got into real estate 20 years ago I read an article that predicted that we would never again see single digit interest rates. Rates at the time were about 12% and going up.
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