Rates Are Still Low

Rates are still low and actually were even lower than before. I've seen the 30 year fixed hit 5.0% with no points. They are also bring back some high loan to value(LTV) loans for first time buyer. FHA loans are still best way to go if you're buying with little money down. Purchase 97% LTV if you have excellent credit. If you're doing a rate/term refinance the max LTV is 96.50%. In additional to the upfront mortgage premium you will still have to pay PMI on loans above 80% loan to value.

I've got some rate sheets contact me if you want to compare some rates.

Where are the mortgage rates now?

So I checked the rates today just to see what's happening in the market and here are the rates:

45 day rate lock - 720 credit scores - $250,000 Loan amount - 75% LTV

30 Year Fixed Conventional 5.250% (0 points)
30 Year Fixed FHA 5.125% (0 points)
25 Year Fixed 5.25% (0 points)
25 Year Fixed FHA 5.125% (0 points)
20 Year Fixed 5.00% (0 points)
20 Year Fixed FHA 5.125% (0 points)
15 Year Fixed 4.625% (0 points)
15 Year Fixed FHA 4.50% (0 points)
10 Year Fixed 4.25% (0 points)
10 Year Fixed FHA 4.50% (0 points)

There you go! Any fees over that or higher rates than what you see....you're paying too much! SHOP AROUND AND FIND ANOTHER LENDER!