Today's Maryland & Pennsylvania Interest Rates
Monthly Interest Rate Update
|30 year fixed||15 year fixed||5/1 ARM|
It is always a good idea to check both the current interest rates and historic interest rate trends, both on the national level as well as your state and local levels. Mortgage interest rates and loan interest rates generally depend on a variety of short and long-term factors, including a large number of macroeconomic variables, the current political environment, and event things like climate and how it affects crops.
The best thing to keep in mind is that not all loans were created equal. Term lengths, early payoff incentives or pre-payment penalties, linking with other financial products you already own, or the ability to open a home equity loan or a revolving credit line down the road are all differentiating factors of various mortgage products on the market today.
Remember that regardless of your research, you have not secured an interest rate until your application or your mortgage broker confirms it. Always watch out for the fine print in the advertisements for loan interest rates. Mortgage companies will often entice you with attractive loan offers, only to tell you later a long list of disclosures and 'what-ifs' when it comes to receiving the actual money.
As with any purchase, you research should include all tools at your disposal, including checking out more than one mortgage company prior to requesting a loan. Tools like our Loan Calculator will also come in handy in your research.