If you are like most people, before you call an actual human mortgage professional who might try to talk you in to something, you go to the web (which I'm told by Homer Simpson comes on computer's now). The problem is that rates are extremely difficult to track, especially considering all of the regional and loan specific price bumps that are baked in to each individual loan. It depends.... how much do you owe, what is your credit score, do you need cash, how big is the loan, what was your grandmother's middle name???? (mmmm.. last part doesn't matter so much). The worst thing you can do is watch the news or rely on the mainstream media to find out what kind of deal you can get. These outlets always seem to be a week behind what's actually happening, but why? The reason is because the nation's media uses the flawed timing of the Freddie Mac Mortgage market survey. I liken it's accuracy to weather reports in Minnesota...also flawed. If I need to know what the weather is doing, I use my window. It's sunny right now...I can see that! The Freddie survey collects from it's participants Monday through Wednesday and then publishes the results on Thursday. Huh? The point is, rates are a moving target and the price on a Wednesday or last hour can be vastly different from the price now. How about now? And so it tends to be a very frustrating search for rate shoppers who can find so much information by searching for Mortgage rates on the Internet that one could practically have their originator's licence. But the one thing you'd really like to know is the ever elusive price...right?!
Our solution: Primestar can save you all of this dreaded the hassle with an Instant custom rate quote. Or for those who would like to stay in the know without having to keep checking back please e-mail nkoster@goprimestar.com a request for Rate monitor.
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