3/23/2020 the stated rate is 4.68%. Keep in mind that is an average for loans available yesterday. When sdrealtor quotes that a client just closed at such and such, that loan was started a month or more ago when rates were lower. And with points you can always lower your rate.
From my experience Mortgage news daily is well worth following if you want to see what rates are doing. The question/issue isn’t what rates are today, the question is how will these increased rates impact real estate. So far inventory numbers tell me the answer is not so much. Of course, maybe it’s too soon to tell.[/quote]
It’s not just points that can change the rate, loan amount and credit score play a huge role as well. I just checked 30 years fixed if I would refi today and I’m seeing rates @ 4% with 0 point.
Go here and check for yourself: https://www.zillow.com/mortgage-rates/
Just like in real estate, you don’t buy an average house, you buy a house. Same goes for loan, you don’t get an average loan, you get a loan (based on your condition).
