Don t count out millennials

Mortgage rates by State


If you're thinking about buying a home sometime soon, you've got one big thing working in your favor: low interest rates. Mortgage rates are at a record low, making the price you pay for your home cheaper overall, GOBankingRates explains. They checked out average rates across the country and put together a list of best and worst states for home financing.

GOBankingRates explains how rates have changed in the past few decades:

According to Freddie Mac, average mortgage rates reached a high of 16.63% in 1981, eventually dipping to pre-recession rates of 6.41% in 2006. At that percentage, total interest paid over the life of a loan (at the current median home price of $215, 000) would amount to $215, 718, with monthly payments of $1, 301. Compare that to the 2013 average of 3.98%: Total interest would be almost halved, at $122, 902, and the monthly payments would be more than $250 cheaper.

The site partnered with RateWatch and surveyed average mortgage rates across the country. They ranked the 10 most and least affordable states for taking out a home loan.



Share this article




FAQ


avatar
What US banks offer foreign national mortgages? - Quora

Find a local, licensed loan originator who works for a non-depository mortgage lender OR a mortgage broker. Either of these entities (and not a bank) will be able to help you locate a lender willing to lend. You do not have to be a U.S. citizen to obtain a mortgage in the U.S.  Here's another trick.  The industry uses this website as a way to shop and see what lenders have to offer their customers:




Related Posts


20 years Mortgage Rates
20 years Mortgage Rates
Mortgage Rates NY
Mortgage Rates NY

Latest Posts
Current home Mortgage Rates
Current home…
Welcome to the TMS current mortgage rates…
Lowest Home mortgage rates
Lowest Home mortgage…
While the beleaguered real estate market…
Top 10 fixed rate mortgages
Top 10 fixed…
Investing in real estate properties involves…
HSBC fixed rate mortgages
HSBC fixed rate…
HSBC has launched a two-year fixed rate…
Sovereign Bank mortgage Rates
Sovereign Bank…
Interest rates on some European mortgages…
Search
Featured posts
  • Mortgage Rates in the U.S
  • 20 years Mortgage Rates
  • Mortgage Rates NY
  • Cheap Mortgage Rates
  • USAA mortgage Rates points
  • U.S. mortgage rates
  • Mortgage rates Comparison Chart
  • Mortgage Rates 10 Year ARM
  • 10 Mortgage Rates
Copyright © 2020 l www.scarredforlife.info. All rights reserved.