15 yrs fixed, 5.5% and 1 point. Is this a good rate for today (2/26/07)?
2007-03-26 14:32:34 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Webster bank will do a 5.25% 15 year fixed for .75 point on a 25 day rate lock. This is off todays rate sheet for 3/26/07
If you are skeptical, and can read a rate sheet, I can send you one in pdf.
Plaza Mortgage can do it at 5.125% for 1 point 30 day lock
What nobody here has the benefit of for comparison of rates programs is the LTV Credit Mid Score And LTV
From what I have located so far the lender quoting you is charging a point on the front and making 1/2 on the back as rebate.
2007-03-26 15:11:55 · answer #1 · answered by Kevin H 4 · 3⤊ 1⤋
I think you mean 3/26/07?
Yes that's a very good rate for California that is. Rates are dependent upon where you are. This also depends on loan amount, credit score, and whether or not you're in a "targeted area." Sometimes lenders offer incentives for brokers to lend in these targetted areas by as much as 1/2% off from the listed pricing. If all positives apply, you should be able to reduce your rate by another .25%
2007-03-26 21:56:17 · answer #2 · answered by ucla987 2 · 0⤊ 1⤋
That's a good rate for the going market.
2007-03-26 21:38:27 · answer #3 · answered by Anonymous · 0⤊ 2⤋
Assuming interest rates don't fluctuate and a decent amortization period you seem to have a good rate, nothing special but still a competitive rate.
2007-03-26 21:36:46 · answer #4 · answered by Anonymous · 0⤊ 2⤋
in my humble opinion it is a good rate. that means you have good credit we have fixed 30 6.125%
2007-03-26 21:36:35 · answer #5 · answered by lilian 1 · 1⤊ 1⤋
yeah thats a good rate, but i could've done better
2007-03-26 22:16:54 · answer #6 · answered by josephcodner 2 · 0⤊ 1⤋