If you’re looking for mortgage rates on the web, it can be pretty confusing. I decided to take a look at a couple of the big names out there and explain what they are posting and how they get that information. First let’s look at the types of rates you will see posted on not […]

Jumbo rates used to be much higher than the non-jumbo. Back in 2009, they were running about 2.5 percent higher than conforming rates. A jumbo mortgage is anything over a $417,000 loan amount. However, in some areas, the jumbos start at anything over $625,500. Those are called “high cost loans” or “high balance” so you […]

15 year mortgage rates are always lower than the 30 year. The longer the mortgage term, the more expensive it is. The problem is even though the rate is lower, the payment is higher so they sound like a good idea until you see the payment. Most people go right back to the 30 year […]

Mortgage shoppers should know the importance of keeping up with mortgage rate trends during the shopping and application process. There are a few trends that can save you a ton of money when it comes to locking in a rate. A trend is defined as a general direction in which something is changing…a tendency, if […]

Blended rate calculations can be done easily without the need for an online calculator with a simple formula. I will show you how in this quick tutorial. Blended Rate Formula Calculation This calculation is needed when using two mortgages at two different annual interest rates. We often want to compare using a single mortgage to […]

It is about noon MST as I write this and wanted to let you know about the mortgage rate markets today. I stay updated in real time on mortgage rates by watching a smart guy who writes at MBS Commentary. And about two hours ago, this guy, Adam, predicted lenders would be sending out rate […]

Lowest mortgage rates are the number one selling point for just about every mortgage company. How can every company you talk to say they have the lowest rates? Because they use rates to get you in. Just once it would be nice for a mortgage company to say, “yeah our rates are ok. You could […]

Bank mortgage rates are a confusing topic for mortgage shoppers. Many consumers simply compare bank mortgage rates believing a mortgage rate is like any other product in that the biggest player will always have a pricing advantage. Not true… Bank Mortgage Rates Are Not Consumer Products Consumers are taught stores like Walmart can price products […]