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Answers (5)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Piger, rates do fluctuate. Although currently what we had a few days ago comes right back. I wouldn't worry about that. Talk to a few who you think would be good to work with from the quotes you received and start the process. ..... Good luck.
- Planners
- Contributions:322
We are getting two to four rate changes almost every day, so it's not surprising that you get different figures on different days. My way of handling this is to take applications on the phone or by fax, then preapprove them through FNMA or FHLMC (which takes an hour or so). Once pre-approved, I can offer a real time lock option to my clients. You should be able to get similar treatment in your area.
An excellent source for free, almost real time mortgage pricing is at:
http://www.bloomberg.com/apps/cbuilder?ticker1=MTGEFNCL:IND
this tracks the general level of FNMA conforming rates with about a 15 minute delay.
Hope this helps.
Tom
An excellent source for free, almost real time mortgage pricing is at:
http://www.bloomberg.com/apps/cbuilder?ticker1=MTGEFNCL:IND
this tracks the general level of FNMA conforming rates with about a 15 minute delay.
Hope this helps.
Tom
You should have contacted a few by now to get a feel for their busines style and their value to you as a consumer. Don't get wrapped up in rate- remember we provide a service. If you are finding that everyone is simply 'low-balling' their rates, and then changing them when you actually sign up to lock, review them as such. Rates DO change, but we are supposed to know which way they are going and 'hedge' in a little lee-way. Out of my 3 Zillow closings, ALL have gotten lower rates than quoted. Granted, that's only three, but still- you can't go by the rate quote alone. What matters is WHO you are working with, and what the rates are like when you choose to lock.
- Dave Mason, "DebtFreeDave"
- Contributions:1315
Yes, just ask them to send you rate updates. Interest rates change by the hour.
- Clay Branch, "Georgia Loans"
- Contributions:7836
No but you can email the lender/broker a few days later and ask them to update the quote to the current terms
Is there a way to get the quotes over time, more than once to settle with one lender (or a broker)?
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