Zillow Advice RSS: Question-Discussion-Guide,Mortgage Rates,MN http://www.zillow.com/advice/MN/mortgage-mortgage-rates/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate what is ZMM , what is that? http://www.zillow.com/advice-thread/what-is-ZMM-what-is-that/242659/ Zillow <a href="http://www.zillow.com/mortgage/">Mortgage</a> Marketplace.<br/>Top of the page. Link says "Mortgage" with red "Instant Quotes" bubble. Between "Homes" and "Advice".<br/><br \><br \>0 replies Thu, 04 Jun 2009 18:53:00 GMT http://www.zillow.com/advice-thread/what-is-ZMM-what-is-that/242659/ 2009-06-04T18:53:00Z Why is the 15 year mortgage down today when the 30 year is up almost 25 bps? http://www.zillow.com/advice-thread/Why-is-the-15-year-mortgage-down-today-when-the-30-year-is-up-almost-25-bps/337638/ Unsure of what <a href="http://www.zillow.com/directory/lenders/">lender</a> you are following.&nbsp; All of mine showed increases today then some backed off with improvements later in the day for all fixed categories.<br/><br/>Based on what <a href="http://www.zillow.com/mortgage/">Mortgage</a> Backed Securities did today I am surprised that you saw a decline, but each lender prices accordingly.<br \><br \>0 replies Thu, 25 Mar 2010 22:05:00 GMT http://www.zillow.com/advice-thread/Why-is-the-15-year-mortgage-down-today-when-the-30-year-is-up-almost-25-bps/337638/ 2010-03-25T22:05:00Z If I lock in a rate with a mortgage broker, am I required to use that broker / bank? http://www.zillow.com/advice-thread/If-I-lock-in-a-rate-with-a-mortgage-broker-am-I-required-to-use-that-broker-bank/353433/ Your rate lock with a mortgage originator is a binding contract.&nbsp; You can get out of it if the lender fails to approve your loan, or if there are severe customer service problems.&nbsp; If you break that contract simply because the rates went down you are breaching the contract and the lender could sue you for lost revenue.&nbsp; Lenders rarely ever sue clients for breaking lock agreements, but legally they could.<br/><br/>Peter Boyle<br/>19 Years Mortgage Experience<br/>[contact info removed by moderator]<br \><br \>0 replies Fri, 11 Jun 2010 17:31:00 GMT http://www.zillow.com/advice-thread/If-I-lock-in-a-rate-with-a-mortgage-broker-am-I-required-to-use-that-broker-bank/353433/ 2010-06-11T17:31:00Z Taking a point to reduce closing cost http://www.zillow.com/advice-thread/Taking-a-point-to-reduce-closing-cost/469080/ This truly depends on the mortgage bank your builder is affiliated with and the program you are going into (conventional/fha/va). They may give you a a lender credit of 1 point with only a .125% jump in rate or it could be .25% in rate. It really depends on the pricing sheet of the lender. Additionally many builders refer you to an affiliated mortgage bank that will typically qoute you a rate with a 1% origination fee already built in. I would ask if this is the case, I can tell you with certanty Ryan Homes does this through NVR, and Pulte does the same. So your lender credit of 1 pt may only cover the 1% origination. <br/><br/>I can tell you in my own case today when I price a loan on the conventional side&nbsp;with my top investor a .125% difference can be as much as a 1.5 percent lender credit, but on other deals FHA for example a .125% can be 2 pts or on a VA a .125% difference can be a lender credit of 2.5 pts<br \><br \>0 replies Tue, 20 Nov 2012 17:21:00 GMT http://www.zillow.com/advice-thread/Taking-a-point-to-reduce-closing-cost/469080/ 2012-11-20T17:21:00Z Should I humor a 5/1 arm for a mortgage on a house we bought a year ago? 30y fixed and 3.75%. I am b http://www.zillow.com/advice-thread/Should-I-humor-a-5-1-arm-for-a-mortgage-on-a-house-we-bought-a-year-ago-30y-fixed-and-3-75-I-am-b/491408/ I would probably treat it like any other mortgage..... seriously click Post Reply and finish your question with alterations to the first sentence.<br \><br \>0 replies Wed, 08 May 2013 23:53:00 GMT http://www.zillow.com/advice-thread/Should-I-humor-a-5-1-arm-for-a-mortgage-on-a-house-we-bought-a-year-ago-30y-fixed-and-3-75-I-am-b/491408/ 2013-05-08T23:53:00Z Broker didn't lock when I told her to. Any recourse? http://www.zillow.com/advice-thread/Broker-didn%27t-lock-when-I-told-her-to-Any-recourse/242149/ Unless they are going to make good on the original rate I would seriously consider looknig at someone else to handle your mortgage (providing you are not under a deadline of some sort).&nbsp; Why reward that person for their incompetence.&nbsp; My suggestion in Minnesota is to contact Sherri Sherpy.&nbsp; She is on the ball and well respected on the site.<br/><br/><br/><a href="http://www.zillow.com/profile/MN-Mortgage-Mom/">Sherri's link</a><br \><br \>0 replies Wed, 03 Jun 2009 15:36:00 GMT http://www.zillow.com/advice-thread/Broker-didn%27t-lock-when-I-told-her-to-Any-recourse/242149/ 2009-06-03T15:36:00Z