Anything at or below 3% is an excellent mortgage rate. And the lower, your mortgage rate, the more money you can save over the life of the loan. ... If you get that same mortgage but at a rate of 3.8%, you'll be paying a total of $169,362 in interest over a 30-year repayment term.Jun 7, 2021
What is considered a high interest rate on a mortgage?
Anything at or below 3% is an excellent mortgage rate. And the lower, your mortgage rate, the more money you can save over the life of the loan.Jun 7, 2021