4.5% for excellent credit scores.
What does this mean???? Interest rates should not be this low. Ask a financial planner or a banker and you will see...these rates are being artificially held low. What that means to you is that it WILL NOT LAST! These interest rates will be going up soon. You will probably never have another chance (for 20-30 years) to enjoy such cheap financing.
Did you know that on a $150,000 home, the difference between 4.5% and 5.5% interest is a whopping $91.50 more a month?
If you are serious about buying a home, please do not wait until next year unless you want to pay $100 + a month more for the same home. (prices of homes will rise too)
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