Fixed Rate Mortgages and Rates
A fixed rate mortgage is a type of home loan where the interest rate remains the same for the entire term of the loan. This type of mortgage is a popular choice among homebuyers because it offers a level of predictability and stability in terms of monthly payments.
Todays Mortgage Rates
| Product | Term (Years) | Current Rate | Points | New APR | Monthly Payment Per $1,000 Borrowed | Apply |
|---|---|---|---|---|---|---|
| 10-Year Fixed Rate Mortgage* | 10 | 0.0499 | 0.05774 | 10.6 | GET STARTED | |
| 30-Year Fixed Rate Mortgage** | 30 | 0.0555 | 0.05478 | 6.31 | GET STARTED |
Why Apply for a Fixed Rate Mortgage at St. Anne’s Credit Union?
Credit unions are not-for-profit financial institutions that can offer higher interest rates and lower fees than traditional banks. In addition to providing a personalized, local banking experience, St. Anne's Credit Union invests in the local community and that's good for everybody.
5 Things to know about Fixed Rate Mortgages
1. Fixed rate mortgages have an interest rate that remains the same for the entire term of the loan, typically 15 or 30 years.
2. Monthly payments on a fixed rate mortgage are predictable and don't change over time, making it easier to budget for.
3. The interest rate on a fixed rate mortgage is typically higher than an adjustable rate mortgage (ARM) at the time of the loan origination.
4. Fixed rate mortgages are a good option for buyers who plan to stay in their home for a long period of time.
5. It may be possible to refinance a fixed rate mortgage if interest rates drop, but this will depend on the terms of the original loan and the borrower's credit history.
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