Mortgage rates finally eased enough to drop into the upper 2% range for the first time. The previous record low 3.03% is now at 2.98%. The interest rates steal the headline, but you must take into account the associated fees paid to obtain the rate.
While some websites (Bank Rate) will show multiple banks interest rates, we’ve found NewRez Mortgage company offers a low interest rate AND low closing rates. For example, a 15-year interest rate (with above average credit, no points) is running only 2.50%, and a 30-year interest rate (with above average credit, no points) is only 2.99%. As for the fees, NewRez charges fees which are below the industry rate… some appraisals are waved if there’s good equity in the property (saving $500) and the other fees can be rolled into the refinance or new purchase.
We recommend you reach out to your banker for assistance. However, if you’d like to contact NewRez, here’s the contact information.
