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Majority of Mortgage Borrowers Still Getting Rates Under 5%

Mortgage News > Majority of Mortgage Borrowers Still Getting Rates Under 5%
Date: 03/12/2019    Majority of Mortgage Borrowers Still Getting Rates Under 5%

While the average interest rate offered on mortgages increased slightly this week, the majority of Americans are still getting rates of 5% or less on their home loans. According to data from LendingTree, 84.7% of all purchase borrowers received offers with rates under 5%, down from 86.7% the week before but up from the previous year when 84.5% received such offers. Of those who were refinancing current loans, 81.7% got offers with rates under 5%, relatively unchanged from 81.8% a week earlier and 82.7% a year ago.

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