If you are currently shopping for rates or thinking about buying a house or refinancing be very careful of advertised rates that seem to good to be true. Whenever you see rates that are advertised on television or in the newspapers please pay careful attention to the APR that is listed in the fine print. Most often these real low rates carry points/ or origination fees that drive up your closing costs dramatically and in turn gives the consumer a lower rate. This will be reflected with a much higher APR.
There are times that paying these upfront fees are beneficial but most often it is not. I highly suggest you always speak to an individual when shopping rates and make sure you know up front what it will cost you to get these low advertised rates.
