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Why Rate Quotes Are So Different

Every Thursday, Freddie Mac releases a report with the average mortgage rates. This is a weekly survey that's done Monday thru Wednesday each week, where they ask lenders what rate and fees they're charging for a 30-year fixed, 15-year fixed and 5-year ARM. The news picks up on this every Thursday and tells everyone "Rates are UP" or "Rates are DOWN."
There are two challenges with this survey. First, it's not real time. So data collected on Monday could be very different than what's available on Thursday in a volatile market. Second, people often ignore the average points (fees) being charged. People will see the average rate online or on the news, but they may not report the average points. It's very important to always know the rate and fees!
You can view the Freddie Mac Survey here: https://www.freddiemac.com/pmms

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Reviews

"As a Real Estate Broker of over 30 years, I can honestly state that working with Mr. Crossley was the smoothest, easiest, and least stressfull lender experience I can recall!! I did not have to chase information. It was provided to me as it happened. I dealt only with Mr. Crossley. The process, including swithing lender in mid-stream, up to and including my client's signing and delivery of documents to escrow, was completed early and without stress to myself, and most importantly, my Buyers! I will glady refer Mr. Crossley to all my future clients!! Sincerely, Bob Perrell Realtor CB Realty"

robert p

"Aaron was extremely knowledgeable and amazing to work with! He spent so much time walking us through each step of the process, had amazing response times and was an incredible resource. Would recommend him to anyone."

paulina v

"Aaron made an extramly complicated and challenging experienced easy and approachable. Communication was always quick and thoughtful. We would gladdly recommen Aaron and his team to anyone!"

michael t

"Moving too quickly through the process caused, at some points, undue stress. For example, moving into escrow before the appraisal report was ready. We didn't even know if the home value was sufficient to move forward with a re-fi, but I was being asked to move forward with the process anyway."

cooper t

"Aaron and his team are amazing. Super organized and easy to work with. Thanks for everything."

kent h

"Aaron is what makes it great!"

karen e

"Very knowledgeable, worked diligently to meet our needs, coordinated all aspects expertly."

edward s

"Very supportive team who was very responsive, communicating what was needed without delay. They answered my questions quickly and made sure my needs were prioritized."

david e

"Aaron has been the go-to guy for many of my family members. He is just so easy to work with and knowledgable. I loved that Aaron always made himself available, and always there for us when we had questions. We always had full confidence in the process and our buying power with Aaron on our side."

jennifer f