Mortgage interest rates change daily. In fact they sometimes change several times in a day. When you view interest rates over a 10 year period you will also see that they go in cycles. Knowing where we are in these cycles can help you to make the right financial decisions when choosing a mortgage which can save you thousands of dollars.

Is the current trend one of falling rates, rising rates, or stability? Should you pay closing costs when obtaining your financing? The team of professionals at frogLOAN.com are trained to help you make the right choices whether you are purchasing, refinancing, or consolidating debt.

What is your rate? For most consumers this is the first question they ask a potential lender. Unfortunately this is the result of decades of marketing by the banking industry that has consumers focused solely on the rate and not the complete picture of rate and cost.

Every interest rate has an associated cost. You can pay higher closing costs (in the form of points) and obtain a lower interest rate, or less closing costs for a higher interest rate. When comparing financing options you should always ask for both the rate and the cost to get that rate. If interest rates are falling, or stable it may be a mistake to pay closing costs either out of pocket, or financed into the loan. Often consumers have the chance to obtain the same interest rates for No Closing Costs by using ModifyMyMortgage® strategies.

VERY IMPORTANT!!! When comparing loan options keep in mind that there are a variety of interest rate and point combinations available to the borrower at the same time for each loan product. If you choose to 'pay' closing costs to obtain a rate - you are choosing to BUY an interest rate. Knowing when to BUY a rate can save you thousands of dollars.

Choosing a "No Closing Cost" or "Closing Cost Credit" does NOT mean getting a higher than market rate. It simply means you are choosing an option that allows the lender to pay closing costs for you. For example, for a loan amount of $150,000 a borrower may be quoted 6.75% with 1 point, 7.25% with zero points, or 7.75% with a closing cost credit sufficient enough to pay all closing costs. All three quotes are 'market rate.' They are simply different options for a 30 yr. fixed loan at a particular time.

Refinancing? Utilizing a "No Closing Cost" loan provides you true savings, as opposed to savings that must be recouped against the cost of a refinance.

Purchasing? The ModifyMyMortgage® strategy with a closing cost credit protects your cash assets!

Below are todays national mortgage rates based on a survey of over 2000 lenders. Note that these quotes are with Closing Costs. Options with lower rates (and higher closing costs) or slightly higher rates (and lower, or No Closing Costs) are available by Contacting Us.

The above link to a third party site is provided for your general information only and should not not be considered to be an endorsement or approval of the sponsors, information, products or services on those sites. 

We can help you with these choices. Contact us and you will be connected to an experienced Loan Educator who can help you evaluate in detail the many benefits of the frogLOAN  Management Program.

Disclosure: All loans subject to credit approval and property appraisal.  Programs subject to change without notice.  Adjustable Rate mortgage rates may increase after settlement.