4.25% 30 Year Fixed Rate
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30-Yr fixed 4.750 % 0.7 to 1
15-Yr fixed 3.750 % 0.7 to 1
5/1 ARM 3.125 % 0.7 to 1
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Better Rates – Online or In Person?

As a young adult we all have a dream house we drive buy and wish we could purchase. Most people have to wait until they have a good credit score to move ahead with the purchase of their dream home. For many years, banks have guided individuals in purchasing their dream homes. Financial institutions are happy to sit down and work with an individual in purchasing these homes, but there are many steps in the process.

Current mortgage rates are an important part of the home buying process. Buyers usually look at the current mortgage rates that banks are offering. If a person is to go get pre-approved for a home loan, that mortgage rate could change, because it was a temporary rate. Rates seem to fluctuate in the house market because of many factors. It is wise to keep an eye open and look for the best low mortgage rates.

However, in the process of buying a home, an individual may come across fixed rate mortgage rates. This particular mortgage rate has an interest rate that stays the same on the house note. Often times the home insurance and property taxes will be placed on a loan and that can fluctuate, but the interest rate does not change. Fixed rate mortgage rates can be beneficial to a buyer if the rates are low enough. If the rates are not low enough a buyer may find themselves trying to find a lower mortgage rate later down the road. To avoid a high interest rate, find a bank that is offering a low mortgage rate. Rates are always changing and it is important to keep up with them.

How does a buyer know they are getting a good rate on their loan? This answer is simple, just shop around. There are usually several banks that offer different rates. There are even banks online that offer financial assistance. Sometimes an online bank is able to offer a lower mortgage rate because they have a low maintenance cost. A low maintenance cost means it does not cost the online bank as much to run a business. It is important to research these banks and make sure they are legitimate. Scam artist are very good at getting buyers to believe in their financial schemes. A major positive about borrowing through a local bank, is the fact that they are real and a buyer can walk in to check mortgage rates at anytime.