Compare Lowest Home Mortgage Rates

How Much Could You Save By Shaving 1 to 2 points off Your Mortgage?

Getting a Lower Mortgage Rate might be easy.  Shaving 1 to 2 points off of your mortgage is a great idea. The charts below tell you it’s possible, very doable, and a smart home financing choice.

Homes are expensive and you need to save money anyway you can. This is where you start, by looking for the lowest mortgages rates available.

Whether it’s our job, auto insurance, current home, and our lot in life, there are those who believe staying put is okay. However, staying with your current provider could be costing your tens of thousands.

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Save your money by checking out several mortgage rate quotes below.

In fact, corporate profits rely on you staying put and not comparing mortgage rates or auto insurance rates.

But the mortgage rate quote, auto insurance quote, refinancing rate etc. you currently receive is likely not all that competitive. It’s a good time to refinance or shop around for an entirely new mortgage solution. Get the system working for you.

Mortgage Rates Canada
Major Canadian Bank Mortgage Rates
Term Length	Fixed Rate	Best Rate
1 Year	3.49%
2 Years	3.29%
3 Years	3.74%
4 Years	4.09%
5 Years	4.99%
7 Years	5.49%
10 Years	6.19%
Lowest Mortgage Rates in Canada You can Find Below
1 Year	2.69%	✔
2 Years	2.84%	✔
3 Years	2.69%	✔
4 Years	2.89%	✔
5 Years	2.69%	✔
7 Years	3.44%	✔
10 Years	3.74%	✔

Mortgage Rates USA
Major USA Bank Mortgage Rates
Long Term	Fixed Rate	Best Rate
1 Year	4.0%
2 Years	4.0%	✔
5 Years	3.375
7 Years	4.0%	✔
15 Years	3.625
30 Years	4
Lower Mortgage Rates across USA You can Find Below
1 Year	3.83%	✔
2 Years	3.92%
5 Years	4.18%	✔
7 Years	4.06%
15 Years	3.28%	✔
30 Years	4	✔

Do it for Your Spouse and Family: Savings Are Smart

And sure, you’re not always looking for rock bottom rates, but you likely are paying premium rates for low quality mortgage loans.

Make Finding lower mortgage rates a priority right now, and you’ll save a lot of money. Consider how much savings translates to a 5, 10, or 20 year mortgage and it’s tens of thousands of dollars.

Saving Money on Your Mortgage – Is Money in Your Bank Account

With the money you save, you can buy a new electric vehicle, or take a vacation to Costa Rica or the Canadian Rockies.  You can turn your mortgage rate search into a real adventure.

That money is yours. You worked hard for it. Count how many hours and days you had to toil in your job to earn that money. See what I mean? People are penny smart and dollar stupid. It’s part of our culture.

Financially wise people on the other don’t get duped when they shop for a mortgage or their auto insurance. It’s your money, get full value for it. You can’t earn as much as you can save, unless you’re Donald Trump. Oh wait a minute, the President has filed for bankruptcy many times.

You’d better shop around. According to a report from Consumer Finance.gov, 77% of consumers apply to only one lender when seeking a mortgage.

You can Save a lot of Money just by Shopping for a Better Mortgage Rate

There are some particularly important tactics you can use to lower your mortgage payments. Here’s 10 good ones:

1. search on Google – the top ranking websites are there because people like them
2. get quotes directly from bank websites – compare them
3. clean up your credit score – make extra big payments for many months to show your intent to pay down your debt. Bank credit score rating expectations are ludicrous, created only to justify charging high mortgage rates
4. don’t leave your current job until you’ve landed that long term mortgage successfully
5. check out the mortgage rate quote tools below
6. use a mortgage rate calculator and crunch some numbers yourself – at least it’ll be harder for lenders to pull the wool over your eyes
7. talk to your current provider and ask for a much lower rate – tell them you’re unhappy and intend to get a cheaper mortgage
8. take a shorter term home loan, let’s say 3 to 5 years – it’s risky however it can you a cheaper rate
9. take the bank’s teaser rate on a short term then shop for a better one when that expires
10. check out a mortgage broker, many of whom advertise online. They’re eager to compete and they’ll do more to offer that lower rate and better terms

All you need to do is search for a lower mortgage rate. The offers are plastered all over Facebook, Google, Bing, news websites and even a blog like this one. How easy can it get!

Is the Forecast for Higher Mortgage Rates? 

Some are warning about inflation and fast rising interest rates are about to go out of control starting in 2018.  Rather than jump at the first fixed rate mortgage offer, shop around.

This forecast shows mortgage rates might go down so you an bargain effectively with this outlook.

 

Mortgage Rate History and Forecast 2018

Mortgage rates are expected to rise, and mortgage shoppers are looking for the lowest rate 30 year mortgages. That’s smart considering how low rates are currently. The sooner you find a good 30 year fixed rate mortgage the better.

This chart from FreddieMac shows 30 year fixed rate mortgage rates since 2013.

1 Year Adjustable Mortgage Rate is Climbing

Mortgage Loan Options – Which the Best Mortgages?

While the lowest mortgage interest rate is one of the primary criteria home buyers take into account, there are other financial and real life issues you need to prepare for. Ensure you check out these popular and vital mortgage loan benefits.

1. fixed or variable rates
2. open mortgages
3. long term loans
4. amortization periods
5. payment schedules
6. skip a payment

Free Mortgage Calculator

Enjoy this mortgage calculator to estimate payment costs.