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How Do I Find a Daily Home Mortgage Rate on the Web?
Posted on 11/22/2002 9:31:41 PM PST by xzins
Every time I use a search engine I come up with a bazillion sites that want to sell mortgages but none put up the current daily mortgage interest rate for 30, 15, years.
Is there any way to get this independently? Do the rates change from region to region? If so, how do I find my region?
posted on 11/22/2002 9:31:41 PM PST
posted on 11/22/2002 9:33:31 PM PST
posted on 11/22/2002 9:34:41 PM PST
posted on 11/22/2002 9:36:36 PM PST
They don't often do it because they are somewhat fluid and are negociated in most cases. Lower rates with more points. Lower rates in some areas and higher in others. Age of house and credit rating. etc,etc.
Most mortagage outfits bundle these things and sell them. They will try to get the best customer at the highest rate they can.
posted on 11/22/2002 9:37:49 PM PST
by Cold Heat
As someone in the biz, I recommend you do what I do:
The ditech.com commercials change their rate and apr (rate with fees) on a daily basis.
posted on 11/22/2002 9:43:02 PM PST
Try searching for "loan amortization". That's how I find one when I need it.
posted on 11/22/2002 9:52:10 PM PST
To: APBaer; LibWhacker; All
Thanks. I want to take my current 6.75 30 year down to a 15 year.
It's been volatile. It seems when stocks nosedive that rates drop. Is that common or am I just noticing a coincidence?
posted on 11/22/2002 9:56:46 PM PST
No there is some relationship.
For instance, decreased economic activity results in:
A. lower corporate earnings which can depress stocks
B. fewer companies borrowing money to build factories. This lower competition for money results in lower borrowing rates.
posted on 11/22/2002 10:02:01 PM PST
Thanks, AP. Do you think stocks will nosedive again in the next week or so? (I know....if you knew that, you'd be richer than Bill Gates....but take a shot at it anyway.)
posted on 11/22/2002 10:05:42 PM PST
So, are you saying that it is better to go through Di-Tech than a bank? For example, wife and I are buying a home right now for $87,500. We're putting $10,000 down, with $3000 in closing costs. Interest rate is at 6.25%. Are you saying that I could have been better off with a lower interest rate and higher points? I'm confused in this area.
So you know, I'm a newly elected official in my town, so I definitely was going to go through a local bank for the loan. Not that I didn't research first.
posted on 11/22/2002 10:12:52 PM PST
"Do you think stocks will nosedive again in the next week or so?"
Historically the Week of Thanksgiving is strong, especially the day before and the day after Thanksgiving.
posted on 11/23/2002 5:50:19 AM PST
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