Can a bank set interest rates below to prime rate or do they have to set them at Prime rate? - prime rate forecasts
The interest rate the bank a mortgage in my area is about 6.1%. Banks can set interest rates below the prime rate, or have to go with the prime rate. If so, is there another source that can be received is too high (eg, credit union, mortgage company, etc.) at a lower interest rate. I need a way to compare the interest in my area. I'm trying to below 5%.
Monday, January 25, 2010
Prime Rate Forecasts Can A Bank Set Interest Rates Below To Prime Rate Or Do They Have To Set Them At Prime Rate?
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Sure. The banks may ask, what interest rates they want. It can also pay interest on what you want.
And, in fact, mortgage rates are not directly related to the already connected.
However, a mortgage is very good from 6.1% in the market. They are very unlikely to find a less than 5%. Unless some kind of teaser tax or some type of ARM (ARM). But this was one of the causes for the crisis of capital. So are harder to find today. And if your finances are so thin that you need less than 5%, then maybe you have to purchase their plans to reconsider, or at least the amount you can pay for a property.
To do a good mortgage broker. He or she will tell you what you qualify, and what are the price for their situation.
Banks can set up wherever they want. The problem is that most MUC lose money under the (why you should be prepared to 5% if you get 6% of their best customers can). Now it will be difficult to find a mortgage close to what you are looking for
Today is the best fixed-rate mortgage 15 years at an average rate of 5.83% ... I checked the Bankrate.com aged 15 years in targeted Maryland for $ 300,000 with no points and got a price of 5.75 reduced.
If you want to pay your points, you can.
If the banks can and should be of use in prime for attracting potential customers on the other hand, depends on your credit score is why the first example of lower interest rates if you have 800 credit score, you are given preferential treatment as a customer .
If the banks can and should be of use in prime for attracting potential customers on the other hand, depends on your credit score is why the first example of lower interest rates if you have 800 credit score, you are given preferential treatment as a customer .
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