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Share of borrowers with interest rates under 5% is growing

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According to a report from LendingTree, 85 percent of borrowers received rates lower than five percent. This is positive news for those looking to purchase a home in today’s market. 

Alcynna Lloyd | HousingWire

The share of borrowers with interest rates under 5% is growing, signaling Americans are getting more bang for their buck.

According to LendingTree’s Mortgage Rate Competition Index, borrowers with rates under 5% hit 85% for the week ending Feb. 3, 2019.

“Homebuyers could have seen median lifetime savings of $30,858 in interest on a $300,000 loan by comparison shopping for the best mortgage rates,” LendingTree Chief Economist Tendayi Kapfidze said.

To read the full article, click here: LendingTree: Share of borrowers with interest rates under 5% climbs

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