Wow! Good news for home buyers, 30 year fixed rates are closing in on the 6% mark again. As you may have seen recently, mortgage rates have been coming down and today, in Minnesota the mortgage rates are as follows;
30 year fixed rate = 6.125%
15 year fixed rate = 5.875%
These are conforming rates which means the loan amount must be under $417,000. Not to be confused with the purchase price. These rates are also based on 80% loan to value (LTV) whether a purchase or refinance and the borrowers must be able to prove income with pay stubs and w-2s, or tax returns.
These rates are from one of my conforming lenders who typically beats all other lenders in the Minneapolis metro. This lender offers great rates for other types of mortgages as well.
Call for rates on other programs, Ken Horst@ 952-842-8100
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