How Are Mortgage Rates Calculated in Texas?

Posted In: Mortgage Refinance
How are mortgage rates calculated? I get this phone question a lot. "Hi, I'm Bob, and I'm from Somewhere, Texas and I want to know what today's mortgage rate is? It's a good question. How are rates calculated and why would someone have a different rate than another person-even f they both have identical credit scores? Some people think mortgage rates are only based on credit scores but it today's post I'd shed some light on the other factors banks use to determine your mortgage rates.