As I have mentioned to you many, many times in the past ... mortgage rates are very, very volatile. As a mortgage consultant it is frustrating to hear from clients "I read in the newspaper that mortgage rates have gone down!", or "Bankrate.com says mortgage rates have dropped!". Here's the thing about any report on mortgage rates, and that includes what you see on CNN, hear on the radio, or read in the newspaper ... they are always, as they say ".... a day late, and a dollar short."
Case in point ... Monday this week mortgage rates dropped from the previous week's high because the Fed and the US Govt. said they would back-up Fannie Mae & Freddie Mac and not allow them to fall. But, on Tuesday and the rest of this week reality came back in focus .... INFLATION ... and then mortgage rates jumped up. But, I kept hearing on the radio and seeing on TV that 'rates have dropped'.
This is why you need someone who can give you 'real time, right now' mortgage quotes. That's why you need ME!
Just look to the right side of my blog. Zillow Mortgage Marketplace is quoting 'real time' mortgage rates. See ... they've gone UP!
Do you know someone in need of a purchase mortgage or a refinance? Send them my way. Thanks.
Mike T.
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