I could do that as a thread, however rates change every day and different lenders have different criteria.
There are hundreds of lenders and it’s impossible to know who is the absolute lowest on any given day…
A 15 day lock is a better deal than a 30 day lock.
A PAR rate will come with a fee, while a “no cost” loan will have a higher rate.
It’s also hard to know what someone actually qualifies for without about 20 pieces of information.
When people hear rates, they always assume that they can get that lowest rate, which isn’t true.
The industry is built on misleading ads getting people to call in, only to find out that they don’t qualify, but are led to a higher product. Many times they aren’t even told about a higher rate until they are signing loan docs.
I’m sensitive to that and don’t like to quote a rate without knowing what someone can really qualify for, but I can post “general” rates any time.
Without knowing the fee to be able to get a rate, it’s hard to compare… A conforming ($417K max) 30 YR fixed is available today at 5.875%, but that’s with a 1 point buy down cost or 6.125% PAR…
30 YR Jumbo ($417K+) rates are about 7% at par or 6.375% for 5 YR ARMS.
