Real-Time Pricing
Live Mortgage Rates - Not Yesterday's Averages
The rates below are pulled from live wholesale pricing engines in real time - the same data a loan officer sees. Not survey averages. Not advertised teaser rates. The actual market, right now. No personal info required.
Conventional Loan Facts
- Down payment as low as 3% for first-time homebuyers, 5% for others
- Down payment assistance programs available to fully cover the 3% down payment
- Private Mortgage Insurance (PMI) required below 80% LTV - automatically removed at 78%
- Maximum DTI typically 45%, up to 50% with strong compensating factors
- Minimum credit score generally 620; best rates at 740+
- Available for primary residence, second home, or investment property
- No upfront mortgage insurance premium - only monthly PMI if applicable
Live Pricing vs Every Other Rate Source
| Source | What it actually shows | Can you lock it? |
|---|---|---|
| Freddie Mac PMMS | Survey average from last week | No |
| Mortgage News Daily | Daily index based on surveyed retail lenders | No |
| Bankrate / NerdWallet | Advertised rates from paid lender partners | Maybe - subject to your full profile |
| Rate Direct (live) | Live wholesale pricing engines, scenario-specific | Yes - subject to underwriting verification |
Why "Real-Time" Matters
Mortgage rates move with mortgage-backed securities (MBS), which trade on the bond market all day. On a volatile day, wholesale lenders can reprice three or four times. A rate that was 6.875% at 9 a.m. might be 6.99% by 2 p.m.
Daily-average sites show you neither: they show you yesterday's averaged number, which is not lockable anywhere. Live pricing tells you exactly where the market is the moment you query it.
Frequently Asked Questions
How are these rates actually live?+
Rate Direct queries live wholesale pricing APIs that hundreds of lenders post to in real time. When you submit a scenario, the system returns the rates lenders are offering at that moment - typically within a few seconds.
How is this different from the rates shown on Bankrate, NerdWallet, or Mortgage News Daily?+
Those sources publish daily averages, advertised rates, or aggregated survey data - they tell you what the market did yesterday, not what you can lock today. Rate Direct returns live, lockable wholesale pricing tailored to your specific scenario.
How often do mortgage rates change during the day?+
Wholesale lenders re-issue pricing several times per day on volatile market days, and once or twice per day on stable days. A rate quoted in the morning may be different by afternoon. Live pricing reflects whatever lenders are offering at the moment of your query.
Can I lock the live rate I see?+
Once you submit an application and your scenario is verified, yes - locks are typically requested at the rate currently published by the chosen wholesale lender. Live pricing accurately reflects locking conditions but the final lock is always confirmed by the lender after document review.
Do I need to share personal info to see live rates?+
No. Browsing is anonymous - no name, phone, email, SSN, or credit pull. You only share info when you decide to apply.
Is the $2,000 guarantee tied to the live rate I see?+
The $2,000 Best Price Guarantee compares the rate, fees, and mortgage insurance of the loan you actually close. Live pricing helps you confirm the rate is competitive in real time, and the guarantee remains a backstop on qualifying loans.
Ready to lock?
Same-day Loan Estimate and pre-approval with a short application. Backed by the Loan Factory $2,000 Best Price Guarantee on qualifying loans.
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Anonymous browsing, full live pricing
Should I lock or float?
Timing strategy + live rate context
Is my rate competitive?
Compare your LE to live wholesale