To say that mortgage rates are low today might be an understatement. What do these really low rates mean for the average borrower? In this episode, Scott dives into mortgage lending with Matt Gaulke from Great Midwest Bank. They talk about today’s rate environment and discuss the benefits of different mortgage products, including fixed rate and adjustable rate and their benefits. They explain Fannie and Freddie and how they impact the mortgage market. Scott also touches on why he thinks working with a local lender is so important, especially for a first-time buyer. You’ll also learn the difference between preapproval and prequalification and why the difference is a big deal when you go to buy a house.