INTEREST RATE OVERVIEW
1. MORTGAGE INTEREST RATES Mortgage Interest rates fluctuate daily throughout the Unites States and are controlled primarily by the bond market. Unfortunately, by the time most published rate quotes reach the public, they are obsolete. This lack of reliability is compounded by the fact that so many mortgage lenders understate their rates in an effort to "bait" calls from prospective borrowers. Even if you access a "current" interest rate file or personally call on the telephone for rates, you may be subject to "baiting" and there is certainly no guarantee that the rate you are quoted today will be available tomorrow. What you really don't want is to rely on a low rate quote that cannot be delivered when you are ready to close the purchase of your new home! The best way to get the lowest interest rate is to have a good and conscientious loan officer who will watch both economic data and the bond market for you on a daily basis in an effort to catch a dip in rates. By doing this, you can combine the shortest possible reservation period with a market downturn and lock your loan at a financially opportune time.
2. LOW INTEREST ALTERNATIVES Regardless of where rates are at any given time, there are ways to do better and buy more home for the same payment.
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TRISH DAWSON, JD, REALTOR AND CHUCK DAWSON, MA, ASSOCIATE BROKER both with Coldwell Banker Legacy 898 2700 DIRECT 505-792 7632 HOME 505-898-9380 971-8584 PAGE 898-9372 FAX