Switched my mortgage to a broker after my bank quoted 6.8%

I was sure the broker's 5.9% rate had hidden fees, but the final paperwork was clean. Anyone else get a better deal outside their main bank?

2 comments

2 Comments

victorross28d ago

Seriously? Banks have loyalty programs, but they rarely reward loyalty with good rates.

violafox27d ago

Totally believe it, my bank tried the same thing last year. They acted like their 7% offer was some huge favor for being a longtime customer. Went to a broker and got 5.5% with no crazy fees at all. It feels like they just hope you won't bother shopping around. What was your bank's excuse when you told them you were leaving?