Remember that every mortgage situation is different. Your neighbor might have the exact same house as you, but your mortgage could be drastically different. They may prefer an interest only loan, where as you might prefer a 30 year fixed mortgage.

The rate is the part of a mortgage that most people fixate on, but usually the bottom line will be the payment. If you are concerned about the rate it is most likely because you are concerned about getting the lowest rate and therefore the lowest payment. If payment is the true driving force of your concern you may want to consider some other mortgage options such as a 40 year term, interest only payments, an ARM or a Pay Option ARM.

To determine if your getting a good rate, you need to speak with three or four mortgage professionals. Make sure you do business with who ever seems to be most genuinely concerned and who you feel is being most honest with you, provided their rate is reasonably inline with the going average for the type of loan you are looking for.