What is a good mortgage interest rate?

[Eric Tsang]

Good Evening Bigger Pockets,

I am in the process of purchasing my first rental investment property and got a quote of 4.75% interest rate from Wells Fargo. Is this amount accurate in current market conditions? The primary house I purchased this year was only at 3.625%.. 

Any advice would be helpful!

Thank you all

Eric

[Roger Pokorny]

I just closed on a 30yr fixed rate loan at 4.875% for a single family rental.  I had the option to pay down the rate to 4.5% with 2 points.  I chose the higher rate so I could keep the cash to re-invest in my next deal.  In the long run, I will earn a higher return as I can use the same cash several times over as I turn over fix and flip property.