What rates are you seeing for conventional loans right now?

[Tiffany Bishop]

I was wondering if anyone would mind sharing what rates you are getting right now when looking at conventional loans.  

I'm looking at a triplex for $260k.  I'm being quoted 4.75% with a 25% down payment, 30 year term, closing costs around 6%.  

[Chris Mason]

Half a point higher than Q3 last year across scenarios.

- If rates continue to go up and the "era of historically low rates" is indeed at an end, you will be glad you locked in what you did, when you did. 6.5% is a historically normal interest rate, so call it 7.5% for an investment property. 

- If rates turn the other direction, you can look at refinancing. 

- If rates flatline, then it's a wash.