Tuesday, January 20, 2009
Where are the 4.5% Mortgage Interest Rates Today?
Where are mortgage interest rates today? Did anyone get that 4.5% rate that was rumored? Some of us got pretty close. Today however, rates are trending a little higher in comparison. My banker at Wells Fargo commented they are at about 5.25% to 5.625% for qualifying borrowers.
It just shows how important it is to have your financial ducks in a row... including keeping an eye on mortgage rates and programs that may save you money. My wife and I filled out our application and waited... waited. Once the rate dropped to a level that made sense for us, we locked. We are on our way to savings. If you think you will want to re-finance or purchase a home, get with a mortgage banker and be ready to take advantage of low rates.