Current conventional loan mortgage rates

[Anonymous]

Hi All, 

This is my first post, but I've been a long time reader. I'm currently going through the home buying process and will be purchasing with 18-20% down and my middle score is 690. My LO says my rate is 4.5%. Is that fair or in line with what anyone has obtained recently?

Thank you!

[Anonymous]

That's pretty high; ppl are getting 30 years at 3.5-3.675% atm.

[Anonymous]

Thank you for your comment! I'm assuming that's the best rate for top tier credit (750+). What do you believe it should be for my score? 

[Anonymous]

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@Anonymous wrote:

Thank you for your comment! I'm assuming that's the best rate for top tier credit (750+). What do you believe it should be for my score? 

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Honestly, I would run the numbers at various interest rates and terms and see which ones YOU would like best. If what you want takes a 700+ credit score, can you delay buying until you raise your score?

[CreditInspired]

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@Anonymous wrote:

Hi All, 

This is my first post, but I've been a long time reader. I'm currently going through the home buying process and will be purchasing with 18-20% down and my middle score is 690. My LO says my rate is 4.5%. Is that fair or in line with what anyone has obtained recently?

Thank you!

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Hello and welcome to MyFICO,

That seems a little high to me especially since rates have been falling. I think you should shop lenders, and compare rates and APR before making a decison.

[MauiMan85297]

What state are you in

[Anonymous]

Thank you everyone! I'm in Georgia.