How Good is your Internet Rate Search?

Many buyers (or re-financiers) go to the internet do a rate search.  While this can be a good idea, a new wrinkle in interest rates changes everything.

 Effective in mid-January, conventional conforming rates are now "tiered".  If you have a credit score of 680 or greater, you get the best rate.  If your credit score is below 680, you will get a higher rate.  The lower the score, the higher the rate.  There is an exception to this.  If you have 30% or more down payment, your credit score will not impact on your rate.