How much are the current Interest Rates?

How much are the current Interest Rates?

I get asked that question on a daily basis and my answer is that it "depends".
When purchasing a property the interest rate a lender will offer you can depend on many factors
and not just your credit score. How long you have been in your job, what you earn, what money you are putting down can play a part in the rate and points you may pay.

That is why I always suggest the first stop for any buyer is the Lender. Once a lender gives
you a good faith estimate based on your information then you can decide if that payment is
comfortable for you and if so then start shopping.

Once you are quoted a rate you also need to understand that unless you pay to lock it in rates change daily. Rate locks generally are for 30 to 60 days. Since it is highly unlikely to close a loan in 30 days I recommend trying to get the 60 day lock. It is very important to be working with one lender by the time you are placing offers so that together we can coordinate price and terms with your mortgage lender.

Aloha, Gina