That’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.

People have no idea what they qualify for.
For those that do qualify,

Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.

With 0 points 5.375% + closing costs.

Can change at any time.

I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.

He will get a nice chunk back from the lender as well.

They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!