Answers
What is a good mortgage rate?
Mortgage rates are based on alot of things. Just because the TV might say 5.875% or 6% these rates are all subject to change. A mortgage lender is the only one that can give you a accurate rate. Rates are determined by credit, doc type, assets, proberty type, loan amount, and many other things.
Best Answer:
Mortgage rates are based on alot of things. Just because the TV might say 5.875% or 6% these rates are all subject to change. A mortgage lender is the only one that can give you a accurate rate. Rates are determined by credit, doc type, assets, proberty type, loan amount, and many other things.
Answers:
5% would be considered good now.
A "good" rate would be between 5-6%. A great rate would be 5%. It all depends on what type of mortgage you take and how your credit is. A 30 year fixed rate right now is about 5.81%. Shop around.
Go to www.bankrate.com & you will find out local rates on different types of mortgage loans.
Good luck...
One that calculates to a payment you can afford. The rate is often considered more than the finances and how it effects them which is crazy. Forget the rate and buy what you can afford. If you can make the payments, you will save a TON over renting even if the rate is 12%
If you need to define a good mortgage rate,
"A good mortgage rate is the best rate a person can obtain based on their mortgage application. It contains personal credit history, job stability, and others....."
If you need to know the absolute best rate, I can't tell you here. but i just approved a 5.2% for 5-year fix. pretty good now