Can You Get a Mortgage for 2%?

2% mortgage ratesCan you get a mortgage for less than 3%? Yes – right now you can find conventional mortgages that start with a 2.

Last week mortgage rates fell dramatically, bringing conventional rates lower as the bond markets rose higher – remember, they move inverse of each other. Lenders locally here in the New River Valley are quoting both above and below 3% on conventional mortgage, which is just nuts to put in writing.

Tomorrow? It could be a different story. But if you’ve got a closing scheduled in the next 60 days, you’ll save yourself money in the long run by locking today. Not ready to buy? That’s fine – buy when you’re ready to buy.

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