Question: What Is A Good Mortgage Interest Rate?

Today’s Mortgage and Refinance Rates

ProductInterest RateAPR
30-Year Fixed Jumbo Rate3.770%3.820%
15-Year Fixed Jumbo Rate3.280%3.310%
7/1 ARM Jumbo Rate3.400%3.770%
5/1 ARM Jumbo Rate3.300%3.750%

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Is 4.75 A good mortgage rate?

*Interest rates assume a good credit rating and 20% down payment. **Amount doesn’t include property taxes, homeowners insurance, or HOA dues (if applicable).

The Cost Savings of Different Interest Rates for a $200K 30-Year Fixed Loan.

Interest Rate*Monthly Mortgage Payment**Total Interest Costs
4.75%$1,043$175,592

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What is a good mortgage rate?

At today’s mortgage rates, however, a score of 620 will qualify for a rate of 5.022%, while those with a score of 760 or higher will enjoy a lower rate of about 3.433%. You can, in theory, qualify for a mortgage with a credit score as low as 500. It will require a minimum down payment of at least 10%.

Is 3.375 a good mortgage rate?

The lowest rate I’ve seen advertised by the top 10 mortgage lenders is the 3.375% on offer at Flagstar Bank. At U.S. Bank you can get a jumbo 30-year fixed as low as 3.625% with similar APR. Their FHA 30-year fixed is currently 3.5%, but APR is over 5% because of pricey mortgage insurance premiums.

Is 3.875 a good mortgage rate?

Is 3.875% a good mortgage rate? Historically, it’s a fantastic mortgage rate. The average rate since 1971 is more than 8% for a 30-year fixed mortgage. To see if 3.875% is a good rate right now and for you, get 3-4 mortgage quotes and see what other lenders offer.