Today the national average 30-year fixed mortgage rate for the beginning of March 2023 is at 7.02%. This is the rate for big banks and large banking firms. Since Alterna Mortgage is an independent broker our average rate today for a 30-year fixed is 5.99%. That is a little over a 1% difference. That is a lot. Depending on the size of your mortgage this would decrease your mortgage payment around $300.
Spring is on the way. This is typically the time of year when the purchase market starts to heat up. The good news, (well at least this month) is that the mortgage rates are falling. Mortgage rates in 2023 will be very unpredictable.
Feel free to call me at 503-7013-4699 or email me at sbfreedom@gmail.com if you have any questions and we can run some numbers.
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