I was listening to a program regarding mortgage rates and how we usually are remiss in shopping for rates the same way we do everything else. We check pricing at different stores to find the best price for a refrigerator or car. Why go to just one source for our mortgage rate when there are so many different products out there to suit different personal financial conditions?
Your bank is not the only resource available, although certainly a viable one to check. But it is important to check other resources either through your real estate agent or friends and family who have had good experiences with a mortgage broker. A quarter of a percent over 30 years compounded can really add up to substantial savings. Like shoes, one size does not fit all when it comes to mortgage products.
Here is a new site http://www.consumerfinance.gov/ that although still in the developmental stages, can assist you with the mortgage process. Even if you have purchased in the past it provides a worthwhile review of one of the most important parts of the home purchase equation.