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Rates are flat today. Today’s rates with no lender fees are 4.0% APR on a 30 year, 3.25% APR on a 15 year and 3.0% APR on a 10 year. (click here for details)

So if you have been shopping around the last week or so, you have definitely seen rates tick up over the past few days. This is a normal cycle in mortgage rates. You will always have your ups and downs.

Now I am sure you know by now that rates change all the time. Seriously – all day every day.

So with that in mind – if you are talking with your loan officer about rates and costs, and he or she isn’t quite meeting your expectations – tell your loan officer what you want.

Check it out in today’s video:

Your loan officer can give you the best rates and costs he or she can offer on any given day, but if you actually tell your loan officer the rate and costs you are looking for, he or she can watch the market and as soon as that deal becomes available, he or she can contact you.

There is nothing wrong with being up front with the originator and setting your terms. With today’s technology, your loan officer should be able to simply enter in your desired rate and costs, and a system will alert him or her the minute the deal becomes available.

Doing this type of shopping will dramatically reduce your time surfing the Internet looking for that best deal. Put it in your lender’s hands.

But if you don’t tell him or her what you want – your loan officer won’t be able to find you the deal you are looking for. I know loan originators in today’s environment are almost superhuman and are very talented, but I have yet to meet a lender who can read minds.

I am not saying they don’t exist; I am just saying I have never met one.

So until I find one, tell your lender what terms you need to move forward with a loan. You will be glad you did.

OK – It’s Follow Friday again for you crazy Twitter fans. Check out these three crazy Twitter fanatics, and show them some Twitter love:

Vickie Elmer Freelance business writer – NY Times/Washington Post

Larry Bleiberg Freelance award-winning journalist

John Waggoner Reporter and columnist for USA Today’s Money Section

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 mortgageā€¦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. 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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