Mortgage Interest Rates Are Below 6%

Although The Swami has been talking about all the doom and gloom surrounding the mortgage industry the last couple of days, there is some good news out there. Mortgage interest rates are once again below 6% for a 30 year fixed rate.

This is actually a great time to buy a home if you are in the market. What with home prices stablized if not falling and low interest rates -- you can get yourself one hell of a bargain.

As always, The Swami recommends that you be diligent when shopping for a mortgage loan. In order to get the best deal on a mortgage, you need to know what the wholesale mortgage rates are for the day. It's much like knowing what the invoice price of a new car is before you go to the dealer.

Wholesale mortgage rates dictate what you as a consumer will be paying for a mortgage. There is no such thing as a magical low rate. If you talk to a lender or are on a lender or broker website and their interest rates are dramatically lower than everyone elses or the wholesale interest rates -- The Swami says run the other way -- FAST! An educated consumer is a happy consumer.

The Swami posts wholesale mortgage rates every day (M-F) from some of the best priced wholesale lenders in the country. Use that as your road map to getting the best deal on a mortgage.

Remember, The Swami Loves You.

Now, here are today's wholesale mortgage rates from one of the lowest rate lenders in the U.S.

RATE 15 DAY 30 DAY
5.250 98.039 97.964

5.500 99.455 99.380
5.625 99.957 99.882

5.750 100.250 100.175

5.875 100.892 100.817
6.000 101.337 101.262

6.125 101.710 101.635

6.250 101.928 101.853
6.375 102.457 102.382
6.500 102.811 102.736
6.625 102.989 102.914
6.750 103.053 102.978
6.875 103.378 103.303
7.000 103.580 103.505