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Mortgage rates dip in weekly survey of lowest 30-year fixed APRs
The top lender, Navy Federal, was 0.62 percentage point ahead of Rocket Mortgage, which had the highest surveyed APR at 7.05%.
Mortgage rates dipped this week, according to a Yahoo Finance weekly survey that ranks lenders by the lowest annual percentage rate, or APR, on 30-year fixed-rate conventional loans, including lender fees.
The survey again put two national credit unions at the top. Navy Federal and PenFed Credit Union had home loan rates that were only fractionally apart, though their advertised fees differed, highlighting that higher fees do not always mean a lower rate.
Yahoo Finance placed Rocket Mortgage at the bottom of its ranked list with a survey-high 7.05% APR and charges of 2 discount points. The survey found an APR gap of 0.62 percentage point between the top lender, Navy Federal, and the bottom-ranked Rocket Mortgage.
The article also notes the rates shown are sample figures based on generic assumptions, including a 20% down payment, and that borrower details can affect pricing. It adds that shopping multiple lenders can lead to meaningful savings, citing Realtor.com analysis that borrowers could save up to an average of $44,000 over the life of a 30-year loan.