bank rates

Best Mortgage Rates Fall Below 5%

If you have good credit and a down payment (or some equity if you’re refinancing) there’s no reason to pay 5% or more for your mortgage.

The best deals we could find on 30-year, fixed-rate loans in 10 major cities now range from 4.875% to 4.625%.

If you have good credit and a down payment (or some equity if you're refinancing) there's no reason to pay 5% or more for your mortgage.

This the first month that every single city we’ve looked at had a rate below 5%, which is a substantial improvement over the 5.125% to 4.875% range we found in our October survey.

Those results reflect the fact that the average rate on 30-year, fixed-rate mortgages fell to a record low 5.06% last week.

READ THE ENTIRE POST INCLUDING CITY-BY-CITY RESULTS.

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  1. basicmoneytips said:
    on November 23rd at 06:38 am

    Great time to buy a house again. Plus, if you have been in your house for 5 years, you can sell and get the $6500 tax credit. It’s not just the $8500 for first time home buyers again.

    If you credit is okay, definately something to consider.