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Any reason to not trust this lender?

Wife and I started shopping around lenders about 2 weeks ago. Wife is a physician so will be getting a physician mortgage (slightly different than regular)

We called a few local lenders who offer physician loans but their rates were crazy, around 7%

So we called two lenders who only do physician loans and really liked one guy we talked to. He seemed straight forward, hes also married to physician so knows a ton about the financials. Ran my wife's credit, took her numbers and was honest in what she can be approved up to but what we should keep the price at if we wanted to be financially conservative (his numbers were spot on to our own)

He then gave her the rate he was seeing that day. 30 year at 5.75, 5% down, no PMI

Amazing rate but we just started shopping and there was no houses we were interested in, but he emailed us the pre approval for what we wanted to spend up to

Well 2 days ago we just got under contract to purchase a new build (fully completed) with a closing date of May 31st

So yesterday we called our lender again and now his 30 year is at 6%, 5% down, no PMI. We called the other physician loan specialist and he was at 6.125, so pretty close.

Our lender told us that he truly believes rates will be coming down the next few days, he said he closely monitors what the market is doing day to day and that there is strong indication that they will be coming down. He then said that he obviously doesn't have a crystal ball and that if we wanted to lock at 6% we can, just that we had to let him know before midnight

He wasn't pushing us in either direction, just telling us both sides

Any particular reason he wouldn't be honest though when he says he believes rates will be coming down in the next few days?

We didn't lock yet

Edit- should I ask him to email us rates daily? Seems very bothersome to call him everyday to see what the rates are

submitted by /u/northhiker1
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source https://www.reddit.com/r/RealEstate/comments/12t2cy6/any_reason_to_not_trust_this_lender/
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