I cannot tell you how many times I saw headlines and blog posts talking about mortgage rates falling yesterday. What is scarier is the number of mortgage professionals blogging (and talking) about it as well.
Simply put, the exact opposite was true!!!
Every Thursday, Freddie Mac puts out their mortgage market survey, which is basically a weekly average and therefore unreliable at best. Mortgage rates change, sometimes many times, daily. So, if you are getting your mortgage rate information from the wrong source, it will likely cost you lots of money.
If you are looking for a reliable source, granted using technical jargon, look no further than Florida Mortgage Daily. This site features at least once daily updates, usually two or three, that covers what is happening in the mortgage markets and whether or not locking or floating is the better choice. If you had been following it yesterday, you would know that mortgage rates were climbing, and fast, the last couple of days.
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