harp interest rates?

[windchime]

What is the name of your state (only U.S. law)? Florida

Can someone tell me what today's harp interest rates are? I am still in the process of a harp refi after a long battle and my rate is locked in at 4.75.
That seems good and my payment is lower, but why do I see things that show a harp refi at 3.75 or lower on TV and google? I asked my loan officer and just get that fast talking mumble that doesn't answer my question. This is a one time deal and I want to be sure I am getting the best rate. My credit is very good almost 800. The house is upside down that's why I am doing the harp. Can someone please explain it to me, I hate this feeling of not understanding. Thanks

 

[Astrolink]

Harp interest rates differ by many variables. I entered: "harp interest rates 2015" at a search engine and there are several sites where you can figure your rate in about a minute by entering your specific details.

 

[single317dad]

If you're only shopping one bank, you're not going to get the best rate. Use a reputable mortgage broker who will shop around and get you the best rate.

It wasn't clear from your original post that this is in fact what you're doing, but in this day and age, going to "The Bank" for a loan is far too limiting.

 

[windchime]

Thank you

I went to bankrate.com and found the interest rates have dropped. I spoke with my loan officer and finally got an answer I can understand. He said Green tree won't give me the lower rate once I have locked in. I would have to cancel this refi, wait 30 days to start all over again with them. Or go some where else. I called two others. One said if I were locked in with them at one rate and it goes down I could pay an extra $325 at closing to lower it. The other said once locked in I can't change it. So I am staying with what I have. It's not the best but I don't want to take any more chances of not getting this. Thanks again.

 

[single317dad]

I went to bankrate.com and found the interest rates have dropped. I spoke with my loan officer and finally got an answer I can understand. He said Green tree won't give me the lower rate once I have locked in. I would have to cancel this refi, wait 30 days to start all over again with them. Or go some where else. I called two others. One said if I were locked in with them at one rate and it goes down I could pay an extra $325 at closing to lower it. The other said once locked in I can't change it. So I am staying with what I have. It's not the best but I don't want to take any more chances of not getting this. Thanks again.

Yes, that's what "locking in" means. Your broker should have explained to you that once you locked in your rate, further changes before closing would not be possible even if rates dropped.