Hi Jane,

The key question here is, why are you not confident with your lender? Rates fluctuate daily and somedays more often. Searching on a site or checking in the newspaper doesn't usually give you the full picture. A low rate may cost more in points or "junk fees". Your credit rating is the true driver of getting the very best rate. If your loan is already locked with your lender and the rates drop, he may agree to float your rate down. If you do shop the your loan, make sure you're getting a good faith estimate from each lender and do it all on the same day. I hope this gives you some insight and good luck.

Jane, Try this.....http://mortgage-x.com/x/search.asp

Good luck, Dunes

Jane,

Although some people do find great rates with places lie Wells Fargo, you should always shop the loan. All Mortgage company's, and Mortgage brokers make money of your deal somewhere so it is all about beating them up on the rates they charge. I would recommend calling the Bank you use most, a credit union if you have one and then also try an outside source. The Realtor you are working with will have a whole list of different company's to try. I have one company I refer my clients with less than perfect credit or if they have no money to put down. I have another that I refer to if they have great credit and money to put down and I have another that handles all of the stated income loans. These are really hard deals and they are expensive so I suggest that unless it is the only option. Any good Loan Officer will be happy to give you a call when the rates do drop. I hope this helps!

Mark Kinslow II
Coldwell Banker

Oh - and one more thing - when the rates dipped - the Wells guy CALLED ME - how awesome is that?

Hi Jane,

Give Wells Fargo a ring. Assuming you have good credit, it's been my experience that they provide the most competitive rates. Today that's probably about 4 7/8 or 5, with a 60 day lock. I just bought and they beat everyone by 1/8 point . Some mortgage brokers are really great - but some try and hide an extra 1/8th in their for themselves. If you go straight to somebody like Wells, you'll get their best deal.

They can tell you what your credit scores are - but not the full reports. This definitely affects how good a rate you get - but there's not much time for you to improve it since you seem to already be under contract.