Rates are flat today. Today’s comparison mortgage rates with no lender fees are 4.5% on a 30 year, 3.625% on a 15 year and 3% on a 5/1 ARM. (click here for details).

My Geek Squad is tearing apart my office today, so I took a field trip to hang out with some furry woodland creatures and talk about mortgages.

The geeks won’t let me back in until I answer their biggest question: “How often do mortgage rates change?”

I answer them from the wilderness in today’s episode:

(Watch it on your mobile phone or email reader here)

If you missed the “Muddy Mike” pictures from this weekend’s Tough Mudder competition, click here to check them out on Facebook.

Mortgage rates don’t necessarily change each day, but your lender will have a bigger or smaller amount to give you towards closing costs. It’s called “Lender Credits” and it is something you should know about with the new loan officer compensation plan that went into effect earlier this year.

Because lender credits are emerging as a hot topic, I’m going to do a special video explaining what they are and how you can get your lender to help pay your closing costs every time. If interested, subscribe here to get it sent to you when it’s ready.

Also, if you get a chance, I would love it if you could 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 mortgageā€¦forever!

See you tomorrow!

– 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. Daily comparison rates, calculators, and other cool features are available in the free Rates in Motion LoanApp by going to your smart phone and clicking on this link, activation code is 9203780002

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