Keeping 'secret' mortgage rates under borrowers' radar
This test rate is higher than the mortgage rates the borrower will end up paying, if they pass the test and according to mortgage advisers, the test rates of the major banks run from 7.05% to 7.4%, while floating mortgage rates range from 5.6 to 5.75%.
Read more on NZ Advisor
New Report Shows States Where Mortgage Rates Are Highest, Lowest
Continuing the recent rally, conventional 30-year fixed-rate mortgage rates dropped another 3 basis points (0.03%) last week to fall to 3.62% nationwide, on average. Rates are now the lowest in 55 weeks, defying consumer and Wall Street expectations.
Read more on The Mortgage Reports (blog)