The Top 10 Reasons Florida Mortgage Rates Are The Same As California Mortgage Rates
1. Let’s take this a step further and say that they are same as Michigan’s mortgage rates, Ohio’s mortgage rates, Texas mortgage rates, New Jersey mortgage rates, and the rest of the states that make up the United States of America. One state does not get better mortgage rates than another. There is nothing written in the Constitution that says one state is better than the next so why would we think that one state should get better treatment financially than the next.
2. Mortgage rates come from the stock market and are traded like a commodity on the secondary market. Mortgage companies originate the loans and package them with all of their other loans and sell them for a quick profit. The companies that buy them are usually larger banks that run mutual funds, hedge funds, and their company’s pension. The earn the interest off of what the mortgage makes.
3.
Click here to continue readingThe Top 10 Reasons Local Mortgage Rates Are A Joke
1. Let’s say that you are shopping for a interest rate for a mortgage and you get out your Sunday newspaper and go to the real estate section to see what mortgage rates are doing that day. You see some 20 different mortgage companies offering different rates saying that sense they are a local mortgage lender they can give you better rates. This is a lie.
2. Mortgage rates have nothing to do with where your house is located. Mortgage rates do not care where you live to be exact. They just want to know whether or not you are going to give them a new home with a new home loan.
3. Local lenders use this local mortgage rates are better than national mortgage rates thing as a trick for you to get off of your butt and walk into their office instead of you getting on the internet, then the phone and calling
Click here to continue readingThe Top 10 Reasons You Should Shop For Mortgage Rates Within 24 Hours
1. When shopping for mortgage rates the American public has been very misinformed. Many people believe that one company is trying to rip them off while one is trying to give them the best deal of the century. Its so easy to believe this when you hear Lending Tree ads all day on the tv and radio talking about having banks fight over you to give you the best mortgage rate. Since you are not in a big hurry you put your name on 3 or 4 different websites like Lending Tree and Lower My Bills where you will be expecting a phone call from a couple different lenders.
2. Depending on what time of day you put your information on those websites you could literally be called within 15 minutes from somebody from a mortgage company. Typically the larger companies will be the first to call because of agreements with
Click here to continue reading
