When I quote you a rate,
I want it to be accurate for your specific situation.
Most large mortgage lenders publish interest rates on their websites. There is one simple reason why I don’t: general rate quotes are often inaccurate. The factors that may affect the rate for your loan include loan amount, loan-to-value, credit score, property type, whether purchase or refinance, and lock term, among others. In order to compare interest rates you have to have an accurate quote that reflects your individual situation. Looking at a banner rate quote on a website is not useful in determining what is really available for you, although it may be useful in getting a general indication of current mortgage interest rates.
To get an accurate quote for your situation:
Lenders publishing rates online will often pick, from among many programs, the one rate that is the lowest, even though the particular requirements for that rate may be very restrictive.