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| 5 year fixed rates as low as 2.24% http://hawthornevillager.com/phpbb/viewtopic.php?f=3&t=68397 |
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| Author: | PaulMeredith [ Mon Jul 11, 2016 8:10 am ] |
| Post subject: | 5 year fixed rates as low as 2.24% |
As the bond yields continue to drop, so do fixed mortgage rates. Just when we think they couldn't possibly get any lower, they do. There are now 5 year fixed mortgage rates as low as 2.24% for high ratio mortgages closing within 45 days. That is, mortgages with LESS than 20% down. This offer has a minimum penalty to break of 2.75% of the outstanding balance, so quite high compared with most other non-bank lenders (more in line with what you might pay with a major bank). For mortgages with 20% or more down payment, refinances and switches, there are 5 year fixed mortgages as low as 2.29% with a much more consumer friendly penalty calculations and for closings up to 120 days. Fixed mortgage rates are determined by bond yields. You can follow the bond yields yourself here: http://www.investing.com/rates-bonds/ca ... bond-yield |
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