Posts Tagged ‘mortgage broker’
The Power of Advice
Expert firefighter Red Adair once said, “If you think the cost of professional is expensive, wait until you hire an amateur.” This adage has been used in many examples. However, in the mortgage industry this message is exceptionally true.
When shopping for a mortgage, there is far more to consider than interest rate. Like the price of a stock, mortgage rates can change from minute to minute. A rate quote provided at 10:00a.m. can be null and void by 10:15 a.m. This can make one lender appear to offer higher rates when in fact the difference is only a change in the market.
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What’s in store for Mortgage Rates?
I can’t think of an easier year to predict the direction of interest rates than 2010. It is safe to say that mortgage rates will be higher this year than they were in 2009. Unfortunately for homeowners and the real estate markets, the days of 4.5% 30 year fixed rate mortgage cannot last forever.
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