Designed with you in mind

With all of the buzz about rate changes, it can be difficult to know what is right for your situation. The simple answer is truly: it depends. MMFCU is here to help you decipher all of the options you have.

Your home is worth taking the time to make informed, wealth-building decisions for you and your family during this time.

  • First, you’ll need to take into account several factors.
  • Your current rate on your mortage
  • How long you plan to stay in the property
  • The amount of money (monthly) you will save if you refinance
  • Reduction of the term of the loan

A good rule of thumb is to look for a difference of at least 0.50% between your current and new rate.

As always, our mortgage team is here to help you with any questions you may have along the way!

Mortgage Rates

TermNominal RateAPRPayment per $1000 borrowed
Fixed Rate Mortgages
30 Year Fixed - 0 Points7.750%7.785%$7.16
30 Year Fixed - 1 Point7.375%7.515%$6.91
30 Year Fixed - 2 Points7.125%7.367%$6.74
20 Year Fixed - 0 Points7.625%7.706%$8.14
15 Year Fixed - 0 Points7.625%7.661%$9.34
15 Year Fixed - 1 Point7.000%7.205%$8.99
15 Year Fixed - 2 Points6.500%6.870%$8.71
Fast Track Mortgage Refinance
12 Years6.375%6.470%$9.95
11 Years6.250%6.353%$10.49
10 Years6.125%6.236%$11.16
9 Years6.000%6.122%$12.01
8 Years5.875%6.010%$13.08
7 Years5.750%5.902%$14.49
6 Years5.675%5.850%$16.42
5 Years5.500%5.708%$19.10

*Any payment amount quoted does not include amounts for taxes and insurance premiums. If these are included with your mortgage, your payment will be higher than the payment amount quoted.