Most Borrowers Don't Get Lowest Mortgage Rates

New York, NY, Sept. 8, 2011 -- Many home buyers are discovering that they don't qualify for historically low interest rates and, instead, have to go with a higher rate, according to a story in Smart Money.

The magazine reports that the gap between the lowest advertised mortgage rate and the rate that most borrowers actually get is as high as its been in two years.

The disparity is about .6%, compared to a more typical .4%, the magazine said.