Rates have not changed since August of 2006 and hopefully by this Wednesday they will not change again. If you are a First Time Homebuyer (FTHB) I would be wiery about the rate because FTHB can take a higher rate hit since they are a new liability to a Lender/Bank. If you have been a previous home owner and coming in with at least 20% down than the rate above seems little high. Right now you are still in a conforming loan so your rate should be a little lower. Since I dont know the full scenario like work history than I cannot be for certain if the rate in which he is giving you is working to the best of your ability.

Rates dont change by state or District. Why I say district is because San Franscisco is base district for our region. Where is the big money in California? Irvine, CA is where all the Big Boys are.

Things to ask for:
PAR meaning you want to pay the 1 point origination fee(Standard) but you want a rate that will not cost you any discount points or is giving your Broker a kick back for using a certain lender.

check out the mortgageprofessor.com for more information on rates and terminology

if you want you can send me your GFE or HUD-1 before you sign and I will tell you what you are paying and not.

Since you are looking to buy a house you can get most your closing costs paid for by the seller. Get a really good REALTOR that can help you will this terminology and help you put this in your contract.

HAPPY LIVING!!!

In all probability your mortgage broker has locked you loan interest rate in anticipation that the rate might go up.

It has gone down as you indicated, but this is a gamble that one takes when attempting to help a client out.

You may take the lock off by telling your mortgage broker that you want to take it off. This is another gamble. Make sure that you see if there are any penalties for taking the lock off your mortgage loan that has been approved.

If you are speaking of APR we are speaking of a different ball game. You will have to find out any and all charges being charged to you for your getting this loan. He should be able to explain your APR and how he arrived at it.

I hope this has been of some use to you, good luck.