Mortgage Rate Shoppers Question #1

Over the next few days I am going to provide readers and Mortgage Rate Shoppers with information on how to correctly and effectively shop Mortgages.

These are “SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS.RUN.DON’T WALK. RUN.TO A LENDER THAT DOES!”

What are Mortgage Interest Rates based on?
The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move in completely opposite directions. DO NOT work with a lender who has their eyes on the wrong indicators.

Please contact me with any further questions you may have at this time – I am ready to work for your best interest!

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