The federal reserve has dropped interest by a 1/4% again today. This is the third 1/4 point drop in 2019 and the last. This news really helps large business’s and bank the most because it drops the lending rate that banks lend to each other. It should help the prime lending rate drop by 1/4% which is great if you have a adjustable rate mortgage tied to the prime rate. Mortgage rates have held steady this summer in the mid 3% range. I have been able to get homeowners rates below 4% along with a lender credit to pay for the closing costs. Mortgage rates should stay the same until the end of the year with only a small hope they will go lower. If you want to find exactly what your mortgage rate will be, you can call or text me at 916-261-2381.
If you are looking for a mortgage broker in Rocklin, this website is the place to look. We have many different lenders to choose from to find you a loan program that best fits your needs.