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
Conforming Rates
Conforming Rates
This will be a little peek into the inner…
Mortgage help for Homeowners
Mortgage help…
When you call the Iowa Mortgage Help…
Fixed Mortgage Deals
Fixed Mortgage…
Buying a home is a big deal. You should…
International Property Loans
International…
Before buying property overseas, it pays…
5 Year mortgage loan
5 Year mortgage…
More than 20 million Americans own their…
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 © 2021 l www.scarredforlife.info. All rights reserved.