3 ways to get a mortgage loan rate below 6% this June
Summary
Mortgage rates in the U.S. remain high, around 6.5% for a 30-year loan as of June, making home buying more expensive. However, some borrowers can find mortgage rates below 6% by comparing lenders, considering adjustable-rate mortgages, and using other strategies.Key Facts
- Average 30-year mortgage rates are near 6.5% in June 2024.
- High inflation is causing the Federal Reserve to keep interest rates from dropping soon.
- Mortgage rates vary by lender, type of loan, and borrower details.
- Comparing offers from multiple lenders can help find a lower rate.
- Adjustable-rate mortgages (ARMs) often start with rates below 6%, but rates can change after an initial fixed period.
- Borrowers who plan to move or refinance soon may benefit from ARMs despite their risks.
- Shopping around and considering loan types can lead to meaningful savings over time.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.