The Mortgage Statement

Happy Thanksgiving week! While you're preparing the turkey and revving up for Black Friday, check out these recently lowered rates. The 30-year fixed rate has dropped from 3.125 percent to just 3 percent with a 3.1511 percent APR and the 20-year fixed rate has dropped from 3.125 to 2.875 percent with a 3.0881 percent APR, while the 15-year fixed rate has remained the same at 2.500 percent. 

Thinking about switching from a 30- or 20-year fixed rate to a 15-year fixed rate? With a shorter term, you get your mortgage paid off sooner. And with today's lower rates, you can save a whole lot more money than simply refinancing to the same term. Check out this article from FreeRateUpdate.com for more tips and information on refinancing to a 15-year rate.  

Bank of Little Rock Mortgage is also rolling out a new blog to provide our experience and expertise on mortgage finance, written in plain English for you to follow easily. We call itThe Mortgage Statement.  

Are you interested in seeing if you prequalify for a home loan? We have a quick-and-easy online prequalification process you can access below. 

If you have any questions, comments or concerns, we would love to hear from you. Just contact us and let us know what you need. For more information on Arkansas mortgage rates, check out our website. 

Happy Monday,

Scott McElmurry

President & CEO of Bank of Little Rock Mortgage

NOTE: Your mortgage rate can be affected by a number of factors, including your credit score, loan-to-value ratio, your down payment and the loan program you choose. No matter what, we'll always find you the best mortgage loan at the best rate, guaranteed. For more information, visit our Today's Rates page.