“Quick close promotions” are still going strong. With a few exceptions, most of the best fixed rates today are with non-bank lenders offering big discounts to borrowers closing within 30-45 days.
If you’re hunting for a fixed rate, the sweet spot currently seems to be with 3-year mortgages. A few lenders are now offering 3-year fixed mortgages at under 5.00%, with good privileges to boot.
The above rates are generally not available at the banks, however, so the best bet is to call a mortgage planner to start your research.
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Last modified: April 25, 2014
