When I worked in banking I'd always use this to keep track of prime interest rates and when I'd have to prep borrowers to either close sooner or maybe wait and

When I worked in banking I'd always use this to keep track of prime interest rates and when I'd have to prep borrowers to either close sooner or maybe wait and redisclose docs. http://fedprimerate.com/ http://fedprimerate.com/ Prime is essentially the base rate for everything. If banks are matching prime, it's because they're not making money on interest but either servicing loans or the fees charged. So they just want to close the loan. We haven't seen 3.25% since like early 2017. I'd personally recommend getting a fixed loan now just because we were teetering on 5.5% pre-covid. 3.25% is of course dependent upon the institution, FHLB or FHA, and credit score. I'd say only buy if you retain the house for the bare minimum required for you to sell and come out even or turn into a rental property. If you can't be patient enough to do either, don't buy a house.