It's infuriating. You open the Sunday paper, you see great mortgage rates, you call — and find that those rates are no longer available.

"We call it the liars' sheet," says Doug Anderson, president of Key Mortgage in Denver, Colo., and communication chairman of the NAMB.

The problem? Since there is a lag time of up to three days before rates that are quoted are listed in the papers, those published rates are often lower than the current market. After all, a lender or broker is trying to predict where rates will be in a couple of days — so why not lowball it?

The rates you are quoted also vary because some lenders fold fees into their rates, while others do not. And the actual rate that you are quoted based on your personal circumstances will of course depend on your credit history and the size of your loan as well as where you live.

So how do you search for the best rate? The best strategy is probably a combination of online research and old-fashioned calling around. To get a basic handle on rates, a good place to start is at Bankrate.com (a partner of SmartMoney.com) which lists rates on a national, state and in some cases, local level.

You could also check out some of the online mortgage brokers and lead generators, like E-Loan.com , and Lendingtree.com.

Keep in mind that while many predicted a couple of years ago that online mortgage lending would quickly start to steal business from traditional brick-and-mortar lending, it hasn't really happened in a big way. Currently, online mortgages account for just under 2 percent of total mortgage lending, according to Forrester Research. Back in 1999, the company had predicted that by 2001 it would represent 4.5 percent of the market.

That said, some of these sites have come a long way. At E-Loan.com, for example, you can now truly do a refinancing entirely online, if that's what you want. (You'll use an e-signature to sign the paperwork.) And many online brokers and individual lenders, like Countrywide, have online applications, live chat and handy email alerts that are sent to you when rates fall to a specified point.

But even if you do decide to go with an online lender, be sure to work the phones, too.

Call several lenders within a short amount of time — ideally within two to three hours — to make sure you're making an even comparison, says NAMB's Fendly.

And when asking for a quote, be very specific. Tell the lender or broker what sort of fees you're willing to pay upfront as well as what sort of lockup period you want. "Consumers should expect detailed answers to their questions free of charge," says Countrywide's Perry. So beware of the lender who says you need to pay a fee to get a detailed quote — whether it's for a credit check, or some sort of "commitment fee." If that happens, move on.

More On Refinancing Mortgages:

• Is It Time?
• Keep It Simple
• Money Saved Equals Money Spent?