Do we shop around for lower rates?
We got pre-approved yesterday and the rate was 5.3%. We live in Texas and we thought the rate was quite high. The lender informed us that this was the lowest rate right now and that we can explore other options once we get a home under contract. Our credit scores are 750 and above and we want to know if we should shop around for lower rates. by dfish218 from Dallas, Texas. May 4th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Mortgage interest rates as of today are well over 2% higher that January 1st, 2022, and are anticipated to go higher. While there are many variables that affect the rate you personally get, that quote is about right for the typical person today. I lend in MN WI IA ND SD, find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132
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