Historically, a good mortgage rate is usually between 5.5 – 7.5 percent. Lately, however, since the financial collapse in late 2008, mortgage rates have been as low as 4 percent.
By the middle of 2010, the rates have been slowly rising, however they are still very low compared to where they were, even 25 years ago.
If you’re in the market for a new home in Rochester, NY, now may be a good time to start shopping around for Rochester mortgage rates. Get your credit report and finances in order and then use Rochester Banking Rates to help you find the best mortgage rates in New York. Sometimes credit unions or smaller banks are able to offer more competitive interest rates. Find one that works for you today.