Most accurate Mortgage Rate on a daily basis report?
My loan is under FHA 30 yrs mortgage here in Austin TX.. Ive be using Bankrate.com and Freddiemac.com but my Lender insists that those are just average.. For example at Bankrate when the rate says 6.13 for this hours of daylight, my lender is saying their rate is 6.25 and would go up to 6.375.. Where could I find more accurate current rate so I could convince my lender her rate is not accurate?? By the opening, we need to lock in on our rate for our Loan soon .. thankfulness
Answers:
Bankrate does not take into account points salaried. I have usually found it to be about an eighth lower than a unbiased zero point rate and I don't see anybody beating my rates.
Her rates are anything her rates are. If she is a broker, she can set whatever rate she wants so that she get paid "yeild spread premium". If she works for a bank, she have no control over the bank's rate being charged. Just remember that if you go elsewhere you may acquire a lower rate but at a higher cost. You have mentioned rate but not cost. It sounds similar to you are not aware of what affects your rate here. Are oyu paying points for this rate and if so how many? Source(s): Alan Openshaw Mortgage Broker
First, I don't use bankrate that much, it's basically an average, but do you know if they update that average hourly, semi day after day, daily. On friday, the 10 year note give up sank a tenth, then shot right pay for up to near 4%. We had rate sheets flying around, as our FHA lenders and sponsors couldn't hang on to up with the changing rates. Second, stop near the rate chasing! Do you realize that with the slight increase, you'll be able to receive more from uncle sam every year since you can deduct it from your taxes. What's your credit, what's your LTV, are you cashing out, all of this plays a factor contained by getting you a rate. if your that worried about rate, why not go a 15 or 20 year. You should be capable of get under 6% here? And save anywhere between 20-70k, depending on how it's structured! Has your broker given you that option, enjoy you thought about using your home as a retirement vehicle or a vehicle to put your kids through college? Do you have a plan at adjectives? Was this part of the conversation when you met or talked beside this broker? Why are you going 30 year? Start looking not only at a number, but your future as ably, yes, it is possible to customize a mortgage for both. Rates don't put food on the table, total monthly payments do Source(s): mortgage broker
Sounds like what your lender is doing is a broker. He is buying a product from someone else and re-selling it. Its common and most mortgages are sold that approach.
Bankrate is an average. However, if you go through the steps, they will also show you what products lenders are offering and at what rates.
Remember to look at fees/points and such when making your decision though. There is zilch wrong with shopping for a mortgage...
bankrate is good. to me its in recent times sounds that the lender is trying something. even though you showing him/her knowledge of the source
Related Questions:
What is a accurate interest rate for a jumbo FHA mortgage contained by CA?
I am working with two different mortgage brokers. One is telling me they can seize me an interest rate of 5% (paying 1 point) for a jumbo ($625K) 30-year fixed FHA loan with 3.5% down. The other lender...
Answers:
Bankrate does not take into account points salaried. I have usually found it to be about an eighth lower than a unbiased zero point rate and I don't see anybody beating my rates.
Her rates are anything her rates are. If she is a broker, she can set whatever rate she wants so that she get paid "yeild spread premium". If she works for a bank, she have no control over the bank's rate being charged. Just remember that if you go elsewhere you may acquire a lower rate but at a higher cost. You have mentioned rate but not cost. It sounds similar to you are not aware of what affects your rate here. Are oyu paying points for this rate and if so how many? Source(s): Alan Openshaw Mortgage Broker
First, I don't use bankrate that much, it's basically an average, but do you know if they update that average hourly, semi day after day, daily. On friday, the 10 year note give up sank a tenth, then shot right pay for up to near 4%. We had rate sheets flying around, as our FHA lenders and sponsors couldn't hang on to up with the changing rates. Second, stop near the rate chasing! Do you realize that with the slight increase, you'll be able to receive more from uncle sam every year since you can deduct it from your taxes. What's your credit, what's your LTV, are you cashing out, all of this plays a factor contained by getting you a rate. if your that worried about rate, why not go a 15 or 20 year. You should be capable of get under 6% here? And save anywhere between 20-70k, depending on how it's structured! Has your broker given you that option, enjoy you thought about using your home as a retirement vehicle or a vehicle to put your kids through college? Do you have a plan at adjectives? Was this part of the conversation when you met or talked beside this broker? Why are you going 30 year? Start looking not only at a number, but your future as ably, yes, it is possible to customize a mortgage for both. Rates don't put food on the table, total monthly payments do Source(s): mortgage broker
Sounds like what your lender is doing is a broker. He is buying a product from someone else and re-selling it. Its common and most mortgages are sold that approach.
Bankrate is an average. However, if you go through the steps, they will also show you what products lenders are offering and at what rates.
Remember to look at fees/points and such when making your decision though. There is zilch wrong with shopping for a mortgage...
bankrate is good. to me its in recent times sounds that the lender is trying something. even though you showing him/her knowledge of the source
Related Questions:
What is a accurate interest rate for a jumbo FHA mortgage contained by CA?
I am working with two different mortgage brokers. One is telling me they can seize me an interest rate of 5% (paying 1 point) for a jumbo ($625K) 30-year fixed FHA loan with 3.5% down. The other lender...