Mortgage Rate Shopping
The rates below are a summary of the industry as of today. They do not necessarily reflect the best possible rates we can obtain, but reflect a snap shot of extremely good rates in today’s market. They are provided to you to give you an overview of market conditions. The reason we do not show the lowest possible rates for all products, is to avoid the possibility of a “bait and switch” taste happening to you. There are many factors which effect what rate is best for you.What is your mortgage plan/strategy? What are your short and long term mortgage goals? What is your tolerance for risk?
These are just a few of the thought provoking questions you should be asking yourself before you decide what rate is best for you.
| Term | Bank Posted Rate |
NDLC Best Rates | Payment Factor * 30 yr |
Payment Factor ** 35 yr |
| 6 month | 4.45 | 4.40 | 4.98 | 4.65 |
| 1 Year | 3.20 | 2.74 | 4.07 | 3.70 |
| 3 Year | 3.95 | 2.99 | 4.20 | 3.83 |
| 5 Year | 5.24 | 3.29 | 4.36 | 4.00 |
| 7 Year | 6.35 | 3.89 | 4.69 | 4.34 |
| 10 Year | 6.75 | 3.89 | 4.69 | 4.34 |
| Variable Rates as low as... | Prime-.15 | |||
| Bank Prime | 3.00 | |||
| * payment per $1,000 of mortgage | ||||
* Above rates subject to changing market conditions & O.A.C. E. & O. E.
* Payment factor is based on a 30 Year Amortization - Insured Mortgages as of March 18th, 2011
** Payment factor is based on a 35 Year Amortization - Conventional Mortgages Only