Lenders charge interest on a mortgage as a cost of lending you money. Interest rates determine your monthly payments over the life of the loan. Even a slight difference in rates can drive your payments up or down. Interest rates are looking good in Blo-No right now.

30- Year Fixed   3.625%

20- Year Fixed   3.500%

15- Year Fixed   3.000%

30- Year FHA    3.375%

30- Year USDA 3.500%

 7/1 ARM             3.250%

5/1 ARM              3.125%

Interest can change from day to day. The rates above are reflective as of 11/1. Banks receive mortgage rate sheets each business day that contains the pricing for that day. The interest rate you receive is one of the more important aspects of the home financing process. It can make or break your home buying decision. Make sure you talk to several lenders before making a decision!