Mortgage rates not only vary from mortgage lender to mortgage broker. But they also vary depending on the state that you live in. For instance, when searching on Google for lowest mortgage rates in Florida does not mean the same mortgage rate applies to a first time home buyer in California. When searching for the lowest mortgage rates in Florida, be sure that you are dealing with a mortgage company in Florida instead of an out of state mortgage company.
Another important factor to keep in mind when searching for the lowest mortgage rate is paying attention to the APR next to the rate displayed by the mortgage company. The lowest mortgage rates advertised online may have discount points associated with them which you may or may not want to pay. Regardless of the mortgage rate displayed, you have the option of asking the mortgage company to provide you multiple scenarios based on lowest mortgage rate with discount points and lowest mortgage rate offered without any discount points. Be sure to shop with at least 3 mortgage companies and compare their mortgage rates on the same day as the rates change on daily basis.
