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Mortgage Rates.

This is a discussion on Mortgage Rates. within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; How important, is it to shop around for mortgages? How many places would you suggest trying? What is the average ...


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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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Old 08-29-2011, 04:13 AM
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How important, is it to shop around for mortgages? How many places would you suggest trying? What is the average rate now? We have good credit (710-790) so wondering what we can expect?

Last edited by Eliezer; 09-10-2011 at 07:33 AM..
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Old 02-01-2012, 11:53 AM
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Hello Check the rates below.

Mortgage Product Mortgage Rates APR
30 Year Fixed Conventional Mortgage 4.625% 4.746%
15 Year Fixed Conventional Mortgage 3.875% 4.081%
30 Year Fixed FHA Mortgage 4.375% 5.681%
30 Year Fixed Jumbo Mortgage 5.375% 5.495%
5/1 Conforming ARM Mortgage 3.375% 4.875%
5/1 Jumbo ARM Mortgage 3.500% 4.914%
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Old 03-20-2012, 05:01 PM
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size of the loan, maturity of the loan, interest rate, method of paying off the loan among others vary on each bank or private lenders. So as much as possible ask and inquire to as many lenders as possible and cut it down to the best offer.

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