Interest Rates for 30 Year Mortgage - what is it?

I am 95% sure that rates are nationwide...

30 year fixed hovers around 6% - 0 points


is this for your brother? there are TONS of other options to look at as well

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Posted by yabbobay

I am 95% sure that rates are nationwide...

30 year fixed hovers around 6% - 0 points


is this for your brother? there are TONS of other options to look at as well

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Yes for my brotehre, I am trying to figure out what he can afford to buy, for the same cost as rent, and I want it to be accurate. I though 6 was high, I thought 5.5 might be more accurate.

well if its about affording...there are other plans that may be better than a 30 year fixed...


ARMs offer very low interest (in the 4s) - whihc means he has to refinance in 3 or 5 years, but the idea is that he will be making more money...or can use the equity in the house...

also this is a great plan for starter homes


there are also interest only loans...where you only pay the interest fort he first 2 years...since most of a mortgage payment is interest anyway...it doesn't throw you too far behin...but in the same way - you are building equity