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Rates are down today. Today’s rates with no lender fees are 3.5% APR on a 30 year, 2.875% APR on a 15 year and 2.75% APR on a 10 year. (click here for details)

Well, it’s Friday today, and if you are watching this video, the chances are you will be shopping for a mortgage over the weekend. I know how you guys are. But that’s a good thing. Getting the best deal with the info I give you can take a little research.
Check it out in today’s video:

But one thing you need to be aware of is that when you are looking on the Internet over the weekend, you are not going to see all the lenders offering the lowest rates.
Obviously the market is not open and there is not live pricing over the weekend. And because of that, a lot of lenders pull their offers off the Internet over the weekend.
Now the lenders who do stay on over the weekend are simply giving you the pricing they had available at the end of the day on Fridays. The nice thing about that is that it’s not going to change until Monday.
So what you can do if you are spending time shopping for a lender over the weekend is to find the lender with the best deal by searching several different Web sites and then wait until Monday to get actual live pricing.
That lender could be a good starting point for you to continue your search for the best possible deal during the week.
The truth is it costs a lot of money to advertise on the weekends, and some smaller companies don’t have the funds to stay on – all the time – especially when rates are stale. Because of that, they will pull their rates off during the weekend.
So the weekend can be a great time to compare a bunch of different lenders at the same time because the market is not moving on you, and it’s kind of a snapshot in time.
But realize that – that deal might not be available Monday morning or a more competitive lender may pop up when you go back to the Web site where you found them.
Most of the time each Web site will have a date and time of last update on it. Make sure you look for it. It makes a big difference.
So don’t burn the guy who gave you the best deal.
This is what it feels like to the lender when you call and ask for a reduced rate or reduced costs after he or she already gave you the best possible deal.
Again – You should always be shopping before you lock. But once you do, concentrate on getting your loan through underwriting instead of what the market is doing.
Craig T. Berry – Providing the latest mortgage news, rates and tools
AllThingsBHGRE – An exciting place to learn tips, strategies and tactics from today’s top real estate pro’s
Dawn Crawley – Real estate agent, mom
If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.
Let’s change the way people shop for a mortgage…forever!
– Mike
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below.

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