At this time, what is a reasonable interest rate?
Answers | 2
Elaine - That's a very loaded question because it depends on multiple factors; everything from property type, to your credit score, to how you will use the property, to the loan type, and other considerations. Furthermore, it's a moving target due to rates always being subject to change. Because today's rates are so volatile, any quote you may have been given will likely have changed by the time you read this.
Chad is correct, rates can, and do, change daily. This moment, "best execution" rates are right at 4.0%. "Best Ex" rates refer to an ideal scenario: Single family home, purchase, 760+ scores, 25% or more down. Loans with lower down payments/scores will have higher rates and/or costs. Of course, the August jobs' report is released Friday, a Fed meeting is looming, and the world's economies are on the ropes, so everything is subject to change.