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Lowest mortgage rates stay above 6% with little change since July
A Yahoo Finance survey found an APR gap of 0.764 percentage point between the top lender, Better Mortgage, and the lowest-ranked Rocket Mortgage.
A weekly Yahoo Finance survey of lenders posting the lowest offers for 30-year fixed-rate conventional mortgages found little improvement since July, with the lowest rates at least a quarter point or more above 6% since July 20.
For the third straight week, Better Mortgage ranked first by annual percentage rate, which includes lender fees, and the top 10 list saw only minor reshuffling as lenders changed pricing.
Across 16 national lenders surveyed on September 8, Citizens Bank, Fifth Third Bank, Rate, PNC Bank, Bank of America, and Rocket Mortgage were not in the top 10 by APR, and the APR difference between Better Mortgage and the bottom-ranked Rocket Mortgage was 0.764 percentage point.
The survey notes that advertised mortgage rates depend on borrower details such as credit scores and down payments, and that shopping multiple lenders can matter, citing Realtor.com analysis that borrowers could save up to an average of $44,000 over the life of a 30-year loan.