What Interest Rates Are You Seeing?

[Dina Schmid]

Curious if anyone has had any recent quotes on 30 year loans for an investment property.

I'm looking at something this weekend in Kentucky. Excellent credit and a 30% downpayment. My credit union quoted me 6.375% but they won't finance a log home. The in-state lender recommended by my realtor quoted me 7.0% if I paid $1300 towards points, which to me seemed ridiculous; back in April when we put an offer down on a property in Indiana we were quoted 7.0 without points. I'm trying to figure out which of these is the anomaly.

[John Underwood]

Don't pay for points since you can refi later.

4 to 6 rate cuts coming by end of 2025.

If it won't cash flow at a 7% mortgage then it's probably not a good deal anyway.