I was in my insurance agent’s office yesterday and in casual conversation he asked where the interest rate was.

Good question, because mortgage interest rates have been volatile over the past number of weeks, but those reasons are for another post.

I told Mike there was no easy answer because it’s a matrix of things that revolve around the specific homebuyer. For example, credit scores, down payment (or loan to value – LTV), back end ratios, loan amount, points paid – the list goes on.

But with a little bit of homework, a serious homebuyer can get a good handle of what rate they should be getting. Take a look at a rate sheet.

Intimidating? A little bit, but Google “how to read a rate sheet” and you’ll quickly figure it out!