FreeRateUpdate.com explains that banks are dishing out higher mortgage rates for bigger profits (yield spread premium). FreeRateUpdate.com researches over a dozen wholesale mortgage lenders’ mortgage rates daily and reports the mortgage rates available to well-qualified consumers paying a standard .07 to 1 point origination on any given day. FreeRateUpdate.com mortgage rates, not the national averates reported by Freddie Mac, are the mortgage rates consumers should shoot for and be willing to accept.

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