Avoiding PMI is costing you $13,000 per year Can I switch mortgage lenders after locking my loan? Loan. My advice today is the same, lock it up. Until this trend ends, locking is the way to go. -victor burek, Churchill Mortgage 2017 has proven to be a relatively good year for mortgage rates.Cost – PMI typically costs between 0.5% to 1% of the entire loan amount on an annual basis. You could pay as much as $1,000 a year – or.Mortgage rates today, April 17, 2018, plus lock recommendations At the end of last week, the average top-tier 30yr fixed mortgage. today, as Brexit and potential EU economic concerns spooked investors. It’s been a remarkable run since Wednesday as rates have.