"What's the interest rate?", is her customers' favorite question, says Barb Brown, mortgage loan officer at ABN AMRO Mortgage.

Her favorite answer is, "it depends."

Interest rates hinge on mortgage types. Rates for fixed-rate loans, ARMs and balloons differ. And the best mortgage depends on each buyer's circumstances - "whichever plan meets the need."

For example, ARMs (adjustable-rate mortgages) work best for people who intend to move in a few years. An ARM starts with lower interest than a fixed-rate mortgage, but after the initial period (usually three or five years), the rate can adjust two percent either way every year for the term of the loan.

A good mortgage loan officer will explain your options and help you pick the plan that suits you. "Clients fill out a short application," Brown says, "but we still need to talk with them to find out what works best for them."