What Interest Rate?

[Alberio]

I am closing in a week and a half (fingers crossed/knock wood/salt over the shoulder) and exercised the "float down" on a locked interest rate.  We were offered a choice between 4.5% with $500 back at closing and 4.62% with $2900 back at closing.  I am wondering whether these interest rates seem reasonable?  They seem a little high to me, but I really don't know. 

Our details: home price $490K, we are putting 20% down.  My credit is the lower of our two and my mid-score was 700 on the nose. 

What do you think?

[DallasLoanGuy]

rate is in line.... you are taking a ding for the 670 mid score <= assuming conventional

[ezdriver]

What loan program are you using? Those rates are in line with what I'm seeing for my current buyers.

[Legen_dary]

I'm looking at 4.625% today.. deciding if I want to lock or not. Lender has me in the 680-699 credit range, condo in high rise, 60 day lock, conventional. Any opinions?

[bradb]

My purchase price is $625k. My mid-score was 708, I put half down and my rate is 4.675% conventional.

[Alberio]

Thanks for confirming that the rate is in line with what I should expect.  My mid-score is 700 per the lender (the 670 in my siggy is from myfico), but it doesn't look like it would make a difference anyway.

Much appreciated!!

Edited to add: this is a conventional loan