Should I be too concerned about interest rates??

[Nadir M.]

I’m looking at a house to purchase...by my bank wants to charge an interest rate that I’m not too fond of? Shouldn’t be a deal breaker right?

[Alexander Felice]

not enough information to give you an answer.

first, interest rate is not the only negotiable term of a loan. what are the loan costs, points, etc? In a vacuum it's impossible to decide on just that metric.

secondly, interest rate variance becomes more costly as the loan size goes up.

1% high on a 100k loan, no big deal

1% high on a 15MM loan, big deal

is he higher than market rate by a lot? rates are going up, and will continue to do so, and everyone is going to pay higher rates.

Lastly, broker value comes from a LOT of things, and the interest rates they can provide are just one aspect of that. I would find it hard to say interest rates are a deal breaker, especially on residential loans where they are traded far less like a competitive product and more like a commodity.