Mortgage Rates in Louisville, KY – Local Bank APR’s Lagging Online Offers

December 9, 2011 No Comments »

If you’re thinking of refinancing your mortgage this year and live in or around the greater Louisville, KY area you may want to shop around for online discount brokers if you’re strictly trying to lower your monthly mortgage payments. We’ve surveyed hundreds of banks and credit unions serving residents of Louisville and surrounding counties in Kentucky and have found that for the most part, online institutions can offer slightly better APR’s.

This trend is consistent with what we’ve been seeing around the country. Generally speaking online discount brokers with no or very few physical branches can offer slightly better deals on mortgage rates due to their lack of overhead expenditures. Fees associated with these brokers, however, may be larger than those associated with local banks and credit unions, so you’ll want to consider that before applying as well.

Lowest Mortgage Rates in Louisville, KY (December 2011):

  1. CapWest Mortgage featuring 30 year fixed rate mortgages with APR of 3.883% and $997 in fees assuming a loan amount of $165k. (Available Nationally)
  2. GreenLight Mortgage featuring 30 year fixed rate mortgages with APR of 3.975% and $1,995 in fees assuming a loan amount of $165k. (Available Nationally)
  3. Fifth Third Bank Mortgage featuring 30 year fixed rate mortgages with an interest rate of 3.750%. They have locations in Flatwood, Louisville and Ashland, Kentucky. (Local Only)
  4. Branch Banking and Trust Company featuring a 30 year fixed rate mortgages with an interest rate of 4.00%. They have several locations throughout the state. (Local Only)
  5. Citizens National Bank of Paintsville featuring 30 year fixed rate mortgages with an interest rate of 4.00%. They have several locations throughout the state as well. (Local Only)

Mortgage Rate Trends

Mortgage rates are continuing to trend downward this week. The average 30 year fixed rate mortgage is down to 4.0% this week from 4.05% the previous week. 15 year fixed rate mortgages are down as well to 3.30% from 3.37% last week. Mortgage rates are geographically sensitive with Kentucky’s APR’s averaging slightly higher rates than other states.

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