There's 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 does.

Some 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!

They 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 know it!