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I'm shopping for mortgage and one of the broker is giving a good rate. He is also saying that this particular lender changes rates once a week. Is that true? He gives me a rate on Tuesday and says the rate is valid until next monday. I thought the rates change everyday.
Can anyone please confirm? This is 30 year conventional loan.
Rates can change everyday and several times a day. Rates have been inching back up. a week or so ago, 30 year fixed was around 5.375 but currently it is about 5.75. There are many factors that will determine whether you qualify for the best rates. Please post back you fico score, ltv and cltv, type of loan.
So this broker is bullshi**ing me by saying rates remain constant for a week?
they usually change only once a week. If the property is in the tri state area then he is referring to hudson city savings. If the market is really bad they will change before Tues.
they usually change only once a week. If the property is in the tri state area then he is referring to hudson city savings. If the market is really bad they will change before Tues.
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