Is 3.875% still the lowest mortgage rate you can get with a high credit score?

[MarieL]

As the title says, I was just wondering for someone with a high credit score, if 3.875% still the lowest possible mortgage rate you can get right now? I saw another poster in another thread mention this rate, which was the same as mine when I got my house a couple of years ago.

 

[braumeister]

There do seem to be lower rates available. Maybe start by looking here:
https://www.bankrate.com/mortgage.aspx?pid=sembpdtexactmortgagesprates&utm_cmpid=291398449&utm_adgid=1275433616631582&utm_tgtid=kwd-79714668905974%3Aloc-4117&utm_mt=e&utm_adid=&utm_dvc=c&utm_ntwk=s&utm_locphysid=93001&utm_locintid=&utm_source=bing&utm_medium=cpc&utm_campaign=p%3AB%7Ca%3ABrMTG%7C%5EG%7C%23D%7Cd%3Amortgage-general%7Cm%3AExact%7Cg%3AUSA%7Cad%3AAll%3ESP&utm_term=mortgage%20rates&utm_content=%5Bmortgage%20rates%5D%7Cp%3AB%7Ca%3ABrMTG%7C%5EG%7C%23D%7Cd%3Amortgage-general%7Cm%3AExact%7Cg%3AUSA%7Cad%3AAll%3ESP&pointsChanged=false&searchChanged=true&mortgageType=Purchase&zipCode=41017&partnerId=sembpdtexactmortgagesprates&ttcid=mortgage%20rates%7Cc%7Ckwd-79714668905974%3Aloc-4117%7Cs%7C93001&userCreditScore=740&userVeteranStatus=NoMilitaryService&userHadPriorVaLoan=false&userHasVaDisabilities=false&userFirstTimeHomebuyer=false&userQuickClosing=false&userFha=false&userLowUpfrontCosts=false&userLowPayment=false&purchasePrice=396000&purchaseDownPayment=79200&purchasePropertyType=SingleFamily&purchasePropertyUse=PrimaryResidence&purchaseLoanTerms=30yr&purchasePoints=All&refinancePropertyValue=206250&refinanceLoanAmount=165000&refinancePropertyType=SingleFamily&refinancePropertyUse=PrimaryResidence&refinanceCashOutAmount=0&refinancePoints=All&refinanceLoanTerms=30yr

 

[njhowie]

Considering the headline I read on a story yesterday was "The average interest rate for a 30-year fixed-rate mortgage fell to 3.45% last week", 3.875% is very likely not the lowest possible. 15-year is even lower. A buddy of mine in FL is currently closing on his 15-year at 3.0%, which he's had a lock on for a month or two.

 

[Andre1969]

I just looked at the NASA FCU page, and they're showing a 30 year fixed for 3.125%, and a 15 year fixed for 2.75%. Dunno about points, closing costs, etc.

I'm at 3.875% fixed for a 30 year, right now. I had been at 4.75% when I bought the house in September 2018, but then rates dropped and I refinanced in April 2019. That drop saved me about $240/mo.

If I could refinance to 3.125%, I estimate it would save me about $195/mo. So, depending on closing costs, it might be worth it to me.

 

[pb4uski]

IME often your local credit union will have the best rates.

 

[corn18]

PenFed CU is showing 3.25%, 30 year, fixed, no points.

 

[jazz4cash]

Don’t drink the kool-aid on having a high credit score lowers your loan rate. Usually you only need a mid 700 score to get the best rate. You could pay more if your score is lower.

I just got an unsolicited offer for a rate of 3.25 w/ 2 points (APY=3.45). I always use APY rather than APR to compare rates. You can usually get a lower rate if you pay points but APY includes the impact of points and closing costs.

 

[FlyFisher]

I refinanced a few weeks ago for 3.625% and no points and looks like rates are lower on Zillow now. Wish I had waited a couple of weeks.

 

[Katsmeow]

I am in process of a refinance. Locked at 3.5% 30 year fixed. Credit score over 800 (my understanding is what mattered was being at 760 or above.