Mortgage Drama!

As I noted below, I have a mortgage broker, Ed, who I've been working with for several years. When I came looking for a loan this time around, he told me there were no 5/1 ARMs, and no Interest Only loans. And that he could get me a 30yr fixed for 7%. I then went to Zillow to see if there was anything better out there. I found just what I wanted, a 5/1 IO ARM, for half a point less than Ed's 30 yr fixed.
As I reported below, I asked Ed if he could do that, and he said "there is NO magic money" and "good luck."

I also talked to my realtor David's guy John. John hooked me up with a 5/1 IO ARM at 6.625%. Maybe not magic, but better than 7%.

I got this note Friday from Ed:
"I’m sure sorry about what’s been going on. I assumed that you were going with the zillow lady, even though I didn’t think she could deliver, so I did not keep searching for loans for you. I was a bit surprised last night when I got your message saying you were going with someone else before I had heard from you that you were dropping the zillow deal.

I know that you bought down the rate on your loan for 12026 in February. You should know that the buydowns for a 5/1 IO ARM today look quite appealing to me. I thought you’d want to see them, so they are attached.

The par price doesn’t even show up on this sheet, but it’s over 7%. However, you can buy down the rate to 6.375% for less than one point ($3110).

Let me know if I can assist. "

I feel a little bit bad that I switched, but when I asked him to give me the same loan as I found online, he said "Good luck." And now all of the sudden he can find the loan I wanted. Oh well, that's the way the cookie crumbles sometimes.