Mortgage interest rates are loosely determined by U.S. Treasury note rates because Fannie Mae, Freddie Mac and other private bond rates are loosely determined by risk spreads based on U.S. T-notes. In addition, mortgage interest rates are specifically set by lenders’ pricing groups that look at the interest rate market, the economy, defaults, and future supply and demand. Some lenders set their mortgage interest rates each Monday while others are constantly in the process of updating them based on the newest information.
As a mortgage bank we have access to many different credit lines which allows us to seek out the very best mortgage interest rates in the market for our clients. Chances are we can meet or beat any real quote from a competitor, so before locking a rate give us the opportunity to quote you our best mortgage interest rates.