Mortgage rates have been very low the past couple of days creating a flurry of refinances.
Just how low? Try 3.500% for a 30 year fixed conventional mortgage (apr 3.652%) priced with 1.152 points.
And how about 2.750% for a 15 year fixed conventional mortgage (apr 3.022%) priced with 1.199 points.
Rates quoted above are as of May 6, 2016 as of 12:30 pm PST and are subject to change at any time and are subject to credit approval. Click here for your no hassle mortgage rate quote for homes located anywhere in Washington state.
Rates above are based on conventional loan amount of $400,000 with a home value of $500,000 and are priced with a discount. Borrowers have credit scores of 740 or higher and the transaction is closing by June 13, 2016 or sooner.
Different loan to values (home equity to loan amount) and credit scores will impact the pricing of rates for better or worse, not to mention that rates change throughout the day — so I recommend getting a rate quote for your local licensed Loan Officer asap to see if refinancing makes sense for your financial scenario.