Everyone wants the lowest mortgage rate they can get. Most Americans get lazy after they find their dream home figuring their work is done. To get the best mortgage rate you have to get some mortgage rate quotes and do some homework-so to speak.

A careful shopper can not only find the best mortgage rate and save thousands of dollars in the process but also find the best product available in the complicated world of mortgages. The mortgage rate changes with virtually every product and there are lots of products.

As recently as twenty years ago when you mentioned "mortgage" most people thought of a 30-year mortgage with a fixed mortgage rate. Mortgage rates are not that simple any more. And maybe that's a good thing.

Volatility in the economy, rapidly rising prices of homes and increased sophistication of lenders and borrowers forced mortgage companies to come up with a broader spectrum of loan products for consumers. Now there is a cornucopia of mortgage products with a plethora of mortgage rates.