I just locked at 4.625%

[Sub-Urban Princess]

Originally Posted by renriq02

1. Just because you locked in 4.625% with no points doesnt mean there aren't any lender fees. Some lenders don't consider an 1% origination fee as a 1% discount point.
Also, some lenders say no points but if your loan is at 140k, and they charge a 1400 commitment fee? it will still equal to 1 point

2. Just because you were told it was going to be no points or 4.625% doesnt mean that's what it's going to be on paper

3. Just because you receive it on a Good Faith 'Estimate' doesnt mean this is what you're going to receive at closing.

Today's rates, and the past week's rates are NOWHERE NEAR 4.625% with no points on a 30yr fixed mortgage.

NOWHERE NEAR IT!

True..very true. There are sneaky Loan Officers out there.

If that rate exists with no points...I moving to Utah!

[maxima1966]

Just like a few others have said....just make sure no other fees are being charged...they have ways of hiding it with fees that sound like they're coming from the bank but really are being charged by the broker..question everything you're not sure of. If no other fees, then 4.625% is a great rate.....trying to time the lowest rate is not easy...similar to stock market...rates can jump up at a moments notice...be happy with a rate in the 4's...There are rumors of the gov't creating a loan with a rate of 4% but so far it's just in the discussion phase..and may not come to pass.

[coolcats]

There is an origination fee. If the GFE is even in the ballpark, the sellers' concessions will cover my closing costs, so I am happy. Of course if the GFE was off by $2000 I wouldn't be happy.