Getting Up-To-Date Mortgage Rate Information
February 23rd, 2010 categories: Buyer Strategies, Mortgage & Finance
Chantilly and Northern Virginia area home buyers who are on the lookout for the best interest rate, may have noticed some of last week’s hesdlines proclaiming that mortgage rates were down 0.04 percent, on average, since the week prior.
Other headlines proclaimed the same thing:
- US Mortgage Rates Drop For 2nd Straight Week (Reuters)
- Mortgage Rates On 30-year US Loans Fall To 4.93% (Business Week)
- 30-Year Fixed Mortgage Rate Falls Farther Below 5% (Marketwatch)
The Freddie Mac Primary Mortgage Market Survey (PMMS), has been collecting are reporting mortgage rate data for nearly 40 years.
But here is the point: mortgage rates are far too dynamic and fluid to expect that even good data from the PMMS will let you know when and where you will get the best mortgage rate.
Remember to, as we have discussed on Chantilly Radio when we talk about mortgage issues, that the interest rate you are getting is not the only consideration to evaluate when you are mortgage shopping.
When you are on the lookout for the right time to “pull the trigger,” the best person to give you up to the moment information is a mortgage officer you trust.
Stay in contact with them because things can change hour-to-hour, if not minute-to-minute.
As always, if you need a few references, I can always give you the names of several reputable mortgage professionals. Let me know if this would help.
