I don’t know whats going on, but we have to move. And it isn’t a good market to do that. But, I decided to look at the mortgage rates for a house that I would love to get; Sitting on nearly 6 acres… I was about to go down a road I’m trying to ignore. Well, anyway… back to the mortgage rates. We stick to one mortgage company pretty much, they have treated us well, but in this market no one is treating anyone “well” and I doubt I’ll be happy to hear the equity and down-payment we put on this house is all washed away. So, when I pulled up these rates, I noticed that the companies that are supposed to benefit from scales of efficiency and leverage are the ones that are pounding the hell out of consumers. Take a look:
The rates were taken from Realtor.com’s mortgage rate script which may or may not be accurate. So what is going on with Quicken and Bank of America where they feel compelled to charge $1400 and $3200 in “Fee’s” and have higher interest rates and mortgage payments? I don’t know, it seems like competition doesn’t impact these companies. I might be a little cranky.