Sunday, June 19, 2011

Mortgage Rate Question

Here's a question for those of you who already locked your mortgage interest rate with NVR.
How did you track the rates during the time you deciding when to lock the rate?  Did you call or email your NVR broker every day to see what the rate was? Did they send it to you? Is there somewhere we can go to find out what the rate is each day?


  1. I kept a close watch on these two sites:

    and then would Google the loan rate I was looking for to confirm. When we were getting close and market speculation seemed to point at the rate we wanted coming soon, we contacted our LO. We told her the rate we were hoping for. She confirmed it looked very possible. And we make a deal that as soon as it hit that mark, to lock us in. She emailed us when it hit the mark, and I confirmed for to lock it in. Viola!

    If she had seem skeptical about it hitting the mark, we all would have had to discuss it further in order to make the right decision for us.

  2. I used WF rates. However, your loan rep is supposed to start sending them to you each day after you have your pre-drywall meeting.

  3. What kind of loan are you doing? FHA will be different than conventional and ARM loans will be a totally different animal.

    Watch the 10 year treasury rate. Conventional will be about 1.5-1.7% higher.

  4. Thanks guys! We are getting a conventional 30 year. I have an ARM on my current house; and I really made out. The rate adjusted to 2.75 last year! :) Wish I could get that locked in for 30 years....