There is no "Regular" range. Money and mortgages are commodities. The rate is a function of supply and demand. In the early 1970s, rates were 6%. By 1980, they rose to 19%. Then they leveled at 10%. As the economy tanked and home sales dropped, rates dipped to the 4% range. A couple of months ago, they rose to the low 5% range. Now they are at 4.80% nationally. The national average is published in most business sections.
Rates vary by risk, not by states. Just like car and homeowner's insurance. If you drive a Volvo, with no accidents or tickets you pay far less than if you drive a Corvette or musle car with several accidents and speeding tickets.
Countrywide and Washington Mutual perverted the mortgage market by lending to anyone.
It's harder to get a mortgage in Florida and Nevada than Texas and PA. Rates are published in the real estate sections of many newspapers.
Rates will vary slightly from lender to lender. The higher your creit score, the more you put down, the lower your debt ratio, the shorter the term; the lower your interest rate will be. In the old days, mortgage lenders knew their borrowers and knew the neighborhood. Now it's all done on computer.
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