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What do borrowers need to know about mortgage-rate locks?

October 21st, 2019 by Sonya Dickinson

mortgage rate lock

We're hearing lots of chatter about mortgage rates these days. Will they continue to rise? By how much? Should I buy now to avoid higher rates?

These are all valid questions, and, unfortunately, there's no crystal ball. However, if you've found a home you like, your mortgage lender might be able to help.

Most lenders offer mortgage-rate locks for consumers who want to protect themselves against future mortgage rate increases. The conditions of rate locks vary from lender to lender, so here are some questions to help you learn everything you need to know before signing.

What is a mortgage-rate lock?

Mortgage rates go up and down, but the process of getting a mortgag...

Click Here to Read More...

Categories: Buyers

Tags: Finances, Closing

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Posts from October 2019

What do borrowers need to know about mortgage-rate locks?

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