March Madness has begun. The annual spring real estate season is officially underway. The starting gun sounded with the latest round of posted mortgage rate cuts – in some cases to all time record lows.
But, of course, there is a catch. If you are shopping for a mortgage, you will have to take a very close look at the conditions attached to these deals. They can be very restrictive, designed more to tie you to the bank and build the bank’s market share, rather than offer a genuinely cheaper rate.
It has been noted by savvy market watchers that the new, posted rates are not really any lower than the unadvertised rates that have been out there recently.
The services of an independent mortgage broker can be very helpful as springtime temperatures rise and the market hype heats up.