How can I moniter the home mortgage interest rates? I do not want a rate quote.?

My website has current rates updated daily. Scroll to the bottom of the page.





http://www.lenderhomepage.com/content/te鈥?/a>How can I moniter the home mortgage interest rates? I do not want a rate quote.?
http://www.bankrate.com





This site monitors home mortgage interest rates. There is nothing being sold on the site. It's not some mortgage broker's site. It is just what you're looking for.How can I moniter the home mortgage interest rates? I do not want a rate quote.?
well its all just ';the cost of money';... it is derived from the Federal Funds Rate which is the discounted rate that banks borrow from each other... your rate will be higher, but this will give you some idea... for example, since interest rates should be cut any day now.... mortgage rates will decline because the US Dollar is worth less.
Do not believe bankrate.com the rates there are lower then what you will get out in the marketplace.


The lenders there are just trying to get a call from someone and you more then likely will not get that rate, or they will have hidden fees. The lenders/brokers pay to be on the site therefore there is no free ride.





Check this out it is from Freddie Mac





http://www.freddiemac.com/dlink/html/PMM鈥?/a>





This comes out weekely and gives you an idea of where rates are, rates are currently better then what is listed here but this is a weekely survey that just came out it does not take into account where rates are today but where they over the week.
I work as a rep for one of the largest mortgage banks in the country. Our rates change sometimes 2-3x per day. Also programs / guidelines change often (especially lately with the credit crisis on wall street). Different factors are taken into consideration when giving you ';quote'; that you'd obtain from a lender or broker shopping on your behalf. To get a general idea you can check out websites like bankrate.com or look in the business section of your newspaper or wall street journal. They publish ';average'; 30 year rates for various lenders.





However, you might not fit the ';profile'; or have other concerns (lack of income/asset documentation, job gaps , etc). Even if you ';found'; a great rate by the time you got your application together and ';locked'; the rate it would most likely move up or down. Also, different lenders charge different fees affecting the APR. They list rates for your typical single family residence but not for a condo (hi/low rise) or other property types. Also, different LTVs (loan to value, based on appraisal) carry different rates. Rates vary from state to state as well.





Find out what your home is worth by contacting an appraiser or using sites like zillow.com for an APPROXIMATE value. Then call up a couple local brokers (tell them you are shopping) and ask for a quote. They'll provide a GFE (good faith estimate) from which you can compare offers.