Have you ever wondered what the current interest rates are for a mortgage loan in Franklin, TN? Freddie Mac publishes a weekly survey on interest rates throughout the county. Granted, it is not lender or market specific however it will provide a snapshot of where they are. Lenders typically move together leading or following up or down. At any point we should be within an .125 to a .25 of each other. If you are looking to see where rates should be this is a good resource. Me, I always quote me best rate at the time of the application. And I start with zero origination fees and zero discount points. If my client is looking for a particular rate I will show them what it would cost in discount points and we can see if the savings justifies the cost. Sometimes yes and most times no. Keep in mind discount points and origination fees can be paid by the seller, if you are buying a house, and negotiated into the purchase agreement. Check it out and see where your lender falls. Freddie Mac Weekly Rate Survey.
