Expert Advice


Seems like it should be simple, but one attempt at searching ‘today’s mortgage rates’ will turn up many conflicting results. How can you check to see what your rate would be today? Refer to Matt Graham’s Mortgage News Daily Post. I couldn’t have said it better:

How to Make Sense of Mortgage Rate Info These Days

By: Matthew Graham

Let’s start today’s rate coverage with a public service announcement on the best way to be a consumer of mortgage rate data online.

It can be quite a chore to make sense of day-to-day mortgage rate movement recently.  Even after doing as much as can possibly be done to ensure apples-to-apples comparisons, there can still be significant changes and discrepancies for one of any number of the following reasons:

  • You’re looking at rate info that is more than a few hours old (even worse if you replace “hours” with “days”).
  • You’re looking at rate info from one specific lender and comparing it to a broad average or a different lender
  • You’re looking at a rate quote that relies on upfront points in order to secure a lower rate
  • You’re looking at a rate quote for a scenario that involves LLPAs (loan-level price adjustments) imposed by regulators based on certain loan characteristics

By the time we combine several of the bullet points above, it’s not uncommon to hear that rates are 1.5% higher or lower for what may seem to be the exact same scenario.  In general, but especially at times like this, it makes sense to account for as many of those variables as possible.  And although our rate index does a great job of that, you can take it to the next level with one simple strategy:

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