Sometimes I can’t remember what I have and haven’t talked about before, but I thought since I have been asked the following question so many times in the last week, I would at least write a little blurb about it. Does it cost money to lock a rate? While I am not exactly sure why this has been such a popular question lately, here goes my best answer… It depends. The Initial Rate … [Read more...]
Should You Wait To Lock Your Loan?
If you have a mortgage application in process and you have not locked your loan -- now is a great time to lock. Rates have been climbing over the last few weeks and it is not uncommon for us to see at least one rate increase a day right now. Recent jobs data reflected record unemployment (the biggest jump in 22 years!) -- which has somewhat helped keep rates under control, but everything that … [Read more...]