Cheap home loans are easy to find in Eugene, thanks to record-low mortgage rates
Mortgage rates plunged to new record lows in our new weekly survey of major lenders.
The average cost of a:
30-year fixed-rate loan -- the most popular way to finance a home -- fell to 4.02% this week.
15-year fixed rate loan dropped to 3.20%.
5/1 ARM, an adjustable-rate loan in which the initial interest rate remains the same for five years and then changes each year after that, fell to 2.99%
That made it easy to find lots of even better deals on home loans in Eugene, Ore., this week.
When I evaluate home loans, I’m looking for the most favorable combination of low mortgage rates and reasonable fees.
These are usually offers that require you to pay no points and loan origination fees of less than $2,000 -- exactly what anyone trying to buy or refinance a home should be looking for to control their up-front costs and keep monthly payments low.
Compare my picks with the best rates from other banks and finance companies in our database.
Our research provides real-time, accurate data on loans in Eugene, across Oregon and throughout the country.
See if you can beat these deals.
Eugene Mortgage Rates
|Lender||30-year fixed||15-year fixed||5-year ARM|
|Mortgage Capital Associates||3.625%||2.875%||2.500%|
|Roundpoint Mortgage Company||3.875%||3.000%||2.750%|
Remember that rates change daily.
These quotes are from the end of the business day on May 9, 2012, to borrow $210,000 for the purchase of a home with a 20% down payment.