Today’s mortgage rates are hard to report since every borrower and their situation is different and every lender is different. There are even state differences. With all the variables, people can be disappointed or surprised when they actually get a real rate quote after a loan officer or broker has looked at their situation. Mortgage [...]

Lowest mortgage rates are the number one selling point for just about every mortgage company. You will never hear a mortgage company say “our rates are ok”. Your number one objective is to get the lowest mortgage rates. So, why is this so hard? You want low rates and mortgage companies have low rates (according [...]

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 have a pricing advantage. Not true… Bank Mortgage Rates Are Not Consumer Products Consumers are taught stores like Walmart can price products lower [...]

30 year mortgage rates drop when the fed cuts rates. Right? Most consumers think just that when they hear in the media the Fed cut interest rates. However, the rate the Fed cuts is the Fed Funds Rate which has nothing directly to do with mortgage rates. 30 Year Mortgage Rates vs. The Fed The [...]

15 year mortgage rates are always lower than the 30 year. The longer the mortgage term, the more expensive it is. So the rate for the 15 year is less than the 30 year. The problem is even though the rate is lower, the payment is higher. Since the mortgage is amortized over a shorter [...]

Condo mortgage rates are higher than a single family home. Or, is that just what you get told out there? The rate for a condo is technically not higher but there is an added cost for condos with less than 25% equity. Any mortgage with extra risk like a condo has added costs. You can [...]

FHA rates today are about .125% or .250% higher than a conventional loan. FHA mortgage rates are different than a Fannie Mae or Freddie Mac mortgage because it is a totally different kind of mortgage. A mortgage insured by Fannie Mae or Freddie Mac is called a conventional mortgage. An FHA loan is also known [...]

Investment mortgage rates can be the same as your primary residence mortgage rates. But that is not what you are told out there. An investment or non owner occupied mortgage is a mortgage on a property you do not live in. It is for rental properties. Investment Mortgage Rates Revealed A non owner occupied mortgage [...]

Most people do not know VA mortgage rates are priced differently than the FHA mortgage rates. It is hard to know that since they are both found under the government mortgage products. Mortgage lender rates do not give you a rate for both VA and FHA. They post what they call government rates which include [...]