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Mortgage Interest Rates

Mortgage Interest RatesLas Vegas Mortgage Interest Rates

Shopping for the best mortgage rates for a refinance or new home purchase can be a frustrating experience if you do not understand what factors influence pricing and interest rates.

Your monthly mortgage rate can be determined by many factors. The many factors include mainly a borrower’s credit score, the Federal Reserve, market conditions and the type of loan. A mortgage is an investment, work hard and try to pay your credit cards as you browse around before submitting your application.


Las Vegas Mortgage Rate Basics

How Do I Shop For The Best HARP Mortgage Rates?

Simply shopping interest rates will generally lead to a frustrating experience with your loan due the factors described in the video above.

Banks who promise one thing and then change their terms towards the end of a transaction through a bait-n-switch marketing approach give the mortgage industry a bad reputation.

The truth is that until a loan originator has all of your information and has had a chance to get an initial pre-approval by uploading your complete application for online approval, it is not possible to receive an accurate rate quote.

For conventional loans, LLPA and bank overlay hits to a rate are digitally calculated in most instances, which basically means that the lender’s complex computer systems will actually assign an interest rate to a file for that particular moment in time.

Instead, you should be shopping interest rates by “Qualifying A Lender” based on their understanding of how rates actually work, as well as their ability to articulate and communicate economic indicators to you that may have a positive or negative impact on the specific Interest Rate that makes sense for your scenario and budget.