Interest rates continue to be very favorable with most coming in below 5%. Keep in mind that rates posted are typically for individuals with a credit score of 740 or better. You will pay a premium or higher interest rate if your credit score is below 740.Take in these rates, the first time home buyer tax credit and other programs that are available, this is such an ideal time to purchase a home or refinance if your rate is at or over 6% (like mine).
Here's a sample of rates from local lenders and as always on the b-town Report rates are for 30 year fixed rate conventional mortgages and rates are subject to change.
- Peoples State Bank (http://www.peoples-bank.com/): 4.875%
- Premier Home Mortgage (http://www.premierhomemortgage.com/): 4.75%
- Regions (http://www.regions.com/): 4.875%
- United Commerce Bank (http://www.unitedcommercebank.com/): 4.75%
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