Lender interest rate

[Andrew Magnowski]

Hello, I’m looking to purchase to a multi family home in NYC/Bronx area. The house itself is a 4 family. The property is going for $770,000. I’m putting 25% down, owner occupied. I just wanted to know if an interest rate of 5.25% is fair. To me it seems high by my broker says its lowest rate I’ll get anywhere. I’m just not so sure about that one. If anyone can give me any insight, I’d greatly appreciate it.

[Chris Mason]

Originally posted by @Ken Tsui:

I am doing the same down in Baltimore and just got quoted 5.3% rate 5.645 APR. Could it have continued to rise that much in 2 weeks!? I feel your pain @Andrew Magnowski!!  

 Held flat for a while then spiked after Halloween. Evidently the costumes weren't sufficiently scary, Wall Street is helping make up for it.