Vince Kingston

Current Rates

You need accurate information from someone who cares.  Rates can change from day to day and there are dozens of variables that go into providing accurate rate quotes you can count on verse generic quotes that may not apply.
 
Call 971-221-8525 or email me today for a fast accurate rate quote

Where do mortgage rates come from?

Is your lender watching rates on your behalf in real time?  Banks do not determine mortgage interest rates.  Unlike short term rates, the Fed has no control over mortgage rates either.  Mortgage rates are market driven and all financial institutions bow to this force.  Virtually all mortgages are securitized into investments called mortgage backed securities (MBS).  Just like stocks and bonds, MBS trade on the secondary market and their price is dictated by independent market forces.  The way these MBS trade on the secondary market is exactly what determines mortgage interest rates.  It doesn’t matter how large the lending institution is, their pricing is still guided by the way mortgage backed securities are performing.
 
To know where rates are going, your mortgage advisor must monitor how mortgage backed securities are trading on a daily basis.  Only then can they provide expert guidance on your interest rate decisions.  They are blind without this information and can only be reactive to pricing changes, not proactive.