
"Interest rates are prices, and sometimes you get what you pay for."
One of the questions that I get asked all the time, which stumps me a little bit more than you might think it should, is "what is your best mortgage rate?". Typically when people ask this question they mean what is the lowest rate that I have access to, and while it should be easy enough to answer, the truth is that this question represents a common yet fundamental misunderstanding about mortgages and interest rates.