Toll Brothers offers 3.99% 30-year fixed rate mortgages
The company has said what lender is providing the financing but with mortgage rates generally about 1% higher than that from most sources, it should entice buyers.
- At 3.99%: $1,988.42 per month
- At 4.99%: $2,236.00 per month
The problem is that buying a new home is more expensive and it seems likely that the ultra-low mortgage rate will be charged to the consumer in the form of less of a discount on the home. That's the point: to spur demand.
Still, if you're interested in buying new construction, this deal should certainly make you give Toll Brothers a second look.