Mortgage rates for Memphis, Tennessee go down to 3.00%

Mortgage rates for Memphis, Tennessee on Lender411 for 30-year fixed-rate mortgages are at 3.00%. That dropped from 3.00% to 3.00%. The 15-year fixed rates are now at 2.56%. The 5/1 ARM mortgage for Memphis, Tennessee is now at 4.56%.

Memphis Market Trends

Memphis is the largest city in Tennessee. It is also the youngest city of the Big Four in Tennessee. Memphis was named after a city in Egypt. Memphis is the home of great music since B.B. King, Johnny Cash, and Elvis all have roots there. Memphis is also famous for its regional BBQ. It is a city rich in history and culture.

For quarter ending December 13:

The average price/sqft was $80, an increase of 25% compared to last year. The median sales price for homes for September 13 to December 13 was $108,000 based on 1,032 home sales. Compared to one year ago, the median home sales price increased 10.8%, or $10,550, and the number of home sales increased 25.9%. 

Popular communities in Memphis include Midtown and Frayser - Raleigh PD, with average home listing prices of $200,787 and $58,740.

Lender411.com will help you find the best mortgage interest rates by putting you in touch with a qualified Memphis mortgage lender who can find you the right loan. 

 

 

Lenders in: Memphis, Tennessee.