The subject
of mortgage interest rates and points has traditionally
been a source of considerable stress for home buyers. But
it needn't be stressful at all if you understand a few simple
basics:
-
Rates change
daily
And in many cases hourly. Yesterday's quote is very
likely to be different than today's, and today's different
than tomorrow's. If you can't afford a rate increase,
then lock in your interest rate and points as soon as
you've completed your loan application.
-
Don't play the guessing game
Nobody, and we mean nobody, has the power to
accurately predict when, and in which direction, interest
rates will move. If a lender tries to tell you otherwise,
it's a good indicator that it's time to find a more
honest or knowledgeable lender.
-
Getting the right Rate and Point combination
Determining which combination of rates and points is
best for you is generally a function of how long you
intend to keep the mortgage. In general, the longer
you plan to keep the mortgage, the more advantageous
it is for you to get a lower rate by paying more points.
Speak with one of our experienced loan counselors to
determine the best combination for your unique situation
-
Don't be seduced by "low-ballers"
While the overwhelming majority of mortgage lenders
are honest, honorable, hard-working professionals, unfortunately,
there are a handful who aren't. Be wary of lenders promising
exceptionally great rate quotes. Instead, limit your
focus to professional lenders, passionate about their
work. In the end, you'll get great service and a great rate.
 Now, if you
really want a more in-depth understanding of the factors
that affect interest rates on a daily basis click on The Expert's Guide to Mortgage Interest Rates. Read
it carefully. The information presented in it will help
you to better understand the mortgage lending process and
will help you save both time and money.
Should you
have any questions, please contact your mortgage lending
experts at any time. They are among the most knowledgeable
professionals in the nation and they're dedicated to making
your loan approval process an easy, pleasurable experience.
I would like my free copy of the The Expert's Guide to Mortgage Interest Rates guide.
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