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Shopping for Best Home Mortgage rates.
To "shop for rates" it is important to know how mortgage loans are priced and what is interest rate lock-in period when calling up a lender to find out their interest rate.
One Mortgage Broker or lender may quote you a "floating" rate and another may quote you a forty-five day lock. Another Home Mortgage lender may quote you the rate for two points and another may quote you the rate for one point. If you call mortgage lenders on different days, you could get widely different quotes because rates don't stay the same every day.
So how to get Best interest rate on your home Mortgage?
Before calling a lender decide two things: how many points you want to pay and how long you want to lock in the Mortgage interest rate. You have to give your mortgage lender or broker all the same parameters and you have to get your quotes all on the same day. Then you will get comp-arable results.
Mortgage Lenders know you are calling up their competitors. Only when you ask for a mortgage rates quote for a specific lock-in period paying a specific amount of points, most lenders will give you a reliable quote for current mortgage rates. But if you press for the "best deal.", then mortgage lender know hat you are shopping around and at least one loan officer will lie to you.
They know you're not likely to immediately fill out an application and lock in the false rate you were quoted. You're going to keep calling around and shopping and maybe tomorrow you'll call back whoever gave you the best quote. By the time you are ready to really lock in your interest rate, you'll be quoted accurately -- or maybe not. They may jack up your rate at the end of the deal when your options are limited. You probably won't even realize he's doing it because you aren't shopping interest rates anymore.
So how to shop for best home mortgage rates? Where to find good Mortgage Lender?
The best way is to get a referral (from a Realtor or a friend), then shop other lenders.
1.    tell the mortgage lenders how much you are willing to pay in points
2.    and how long you want to lock in the rate.
3.   Make all your calls on the same day.
4.    Tell the lender you have already filled out an application and that you are willing to fax it in, so the rate has to be something he can deliver.
5.     Get the best quote under those conditions, then call the lender who was referred to you. Tell him what you found out and he will tell you if it is real or not -- and whether he will match it.
Then you choose your lender.

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Trendy Mortgage Refinancing and Second Mortgage Programs: A Brief Review by Chris France
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