bank rates

Most Mortgage Rates Steady To Lower

Rates on 30-year fixed loans are stuck just above 5%, which is a pretty good place to be. In many parts of the country you can get a mortgage rate of 5.25% APR or less with no points and fees under $2,000.

That’s not the low 4.50% rate that government officials were throwing around last winter. But it’s a darn good one. With a mortgage rate of 5.25%, you’re paying just $552.20 per month (principal and interest only) for every $100,000 you borrow.

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We shopped mortgage rates on the database of Bankrate.com and Interest.com and came up with the lowest rates in 12 U.S. cities stretching from coast to coast.

Chicago, Ill.: 5.25% from First Savings Bank of Hegewisch.

Dallas, Tex.: 5.125% from American Lending Group, Inc..

Knoxville, Tenn.: 5.25% from Home First Tennessee.

Las Vegas. Nev.: 5.125% from Mortgage Capital Associates.

Little Rock, Ark.: 5.125% from AimLoan.com.

Macon, Ga.: 5.125% from The Money Store.

Miami, Fla.: 5.00% from EZZ Financial.

Philadelphia, Pa.: 5.125% from Qwest Mortgage Inc..

San Jose, Calif.: 5.00% from National Mortgage Alliance.

Spokane, Wash.: 5.125% from Home Link Mortgage, Inc..

St. Cloud, Minn.: 5.125% from Home Savings of America.

Topeka, Kan.: 5.25% from Capital City Bank.

Winston-Salem, N.C.: 5.25% from Carolina Equity Services.

You need to know: The rates quoted here 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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