Tennessee
Mortgage Rates;
The housing market in Tennessee remains strong with sales on the increase and prices keeping stable. There are more houses on the market which means that buyers have much more choice and have more leverage in their negotiations. Properties are still affordable and demand is strong.
Sellers need to set the right price and be realistic about their asking prices. Look at your local market to get an idea of the prices. Some sellers are offering extra incentives to sell their homes quicker.
Buyers need to do their homework. Know your market and do your homework on the mortgages which are available.
The choice of homes is increasing so be patient and you will find the right home at the right price.
Below are examples of rates being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.125%
15 Yr Fixed : rates from 5% to 5.875%
1 Yr ARM : rates from 5.125% to 5.5%
3/1 ARM : rates from 4.75% to 5.875%
5/1 ARM : rates from 5% to 6%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.5% to 6.375%
15 Yr Fixed Jumbo : rates from 5.125% to 6.125%
1 Yr ARM Jumbo : rates from 5.125% to 5.5%
3/1 ARM Jumbo : rates from 5.25% to 6.125%
5/1 ARM Jumbo : rates from 5.25% to 6.25%
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Looking for a mortgage in one of Tennessee's major cities? Click any of the cities below for more mortgage information.
Major Tennessee
Cities;
Athens
Cleveland
Jackson
Knoxville
Memphis
Nashville
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