First of all, why all the big fuss over interest rates? Does having a slightly lower rate change that much for a potential home buyer? Let’s take a look at an example. Perhaps you need to borrow $400,000 and have two lenders that are competing for your business.
The first lender is one of the “big banks” and offers an interest rate of 5.99% while the second rate has been secured through a broker and is around 4.99%.
Source:
John Antle
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