Savings Account & MMA Rates
CD (Certificate of Deposit) RatesMany people feared that mortgages would become much more expensive when the Federal Reserve stopped buying mortgage-backed securities this spring.
But the Fed dropped out of the market March 31, and so far, mortgage rates remained near historic lows.
Our latest survey of the best rates available in 10 major cities found lenders offering 30-year, fixed-rate loans for less than 5% in all but one.
That’s unchanged from March, and nearly as good as last November, when average mortgage rates reached all-time lows and the best rate was below 5% in every city.
To find the best available rate in each market we search the databases at Bankrate.com and Interest.com.
We compare 30-year, fixed-rate loans with no points and fees of less than $2,000 because that’s the best mortgage for most borrowers.
The best deals we found were:
Atlanta: 4.875% from Absolute Mortgage Company.
Boston: 4.875% from Total Mortgage Services.
Chicago: 5.0% from Sterling Home Mortgage.
Dallas: 4.875% from Gold Star Inc. Mortgage Financial Group.
Los Angeles: 5.00% from AimLoan.com.
Miami: 4.75% from EZZ Financial.
New York: 4.875% from EverBank.
Phoenix: 4.875% from NationsChoice Mortgage.
San Francisco: 4.875% from The Money Store.
Seattle: 4.875% from Pacific finance Group, LLC.
The fine print: These mortgage rates are for conforming loans (less than $417,000), and for borrowers with credit scores of at least 700. For scores from 680 to 699, you’ll usually pay higher fees, up to 1% of the loan value, or a higher rate.
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