no such thing as a free lunch! All lenders are
pretty much limited by the same pool of money
that is available to be loaned out to homebuyers.
At the beginning of the week, lenders must anticipate
what they think the interest rates will be on
the following Sunday, when the newspaper finally
comes out! Sometimes they simply second guess
the market totally different than their competition
times lenders will quote rates on loans that
must close within 10 to 15 days in order to
entice you to call them. Watch out for the smoke
and mirrors when they quote you a low interest
rate, but don't tell you how much your closing
costs will be!
often trap uninformed buyers by raising the
buyers closing costs to include points and fees
to raise their mortgage yield equal to or even
higher than the rates quoted by their competitors.
Who knows how much closing costs are? They can
charge you higher closing costs than their competitors
and if you are like most people you'll never