The mortgage rate someone lands when they buy a house depends on many things, including their credit score, debt load and the particular lender. But a new study by online mortgage marketplace LendingTree reveals there’s another factor that plays a surprisingly significant role in the rate they lock in: which state they live in. An even bigger surprise? The state that emerged as the bargain of the bunch.
Currently, the national average for a 30-year, fixed-rate conforming loan is 4.84%. But California—emblem of all that is...
This should never be beyond anyones means...
Meanwhile, Texas has the hottest real estate market, as both West and East Coasters flee the high cost of living.
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Considering the price of housing in CA, it's not surprising that the rates are lower. Too many people can't afford housing as it is. Raise rates & you're going to have even more homeless people & others leaving the state.