to ensure you’re also part of the whole process and that you’re involved in every step of the way. Thirty to forty-five days seems like an awfully long time to get to the closing table, but when you've got so many hands in the pie and everyone has to do their job, the slightest hitch can gum up the works. Research has shown that most people spend more time shopping for cars than they spend thinking about mortgages. As a result, many people seeking to buy homes end up paying more in closing costs or a higher interest rate than they might have because they didn’t bother doing enough research or they didn’t adequately shop the mortgage market. The real estate mortgage interest rates can move up and down quickly due to various financial and market factors. The ever-changing rates can confuse almost anyone, and timing is important. For instance, one day, the rate might be 3.5% and the following day it could rise to 4%. Many people overlook the shopping aspect and tend to approach a single lender. As a result, these people will probably get their “dream” home, but it may come with a substantially higher monthly mortgage payment than if appropriate and adequate research had been done.
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