rate lock
What Do First-time Homebuyers Need to Know About A Rate Lock?
What You Need To Know About Locking A Rate
The financial markets reacted to the initial uncertainty surrounding the Trump Administration with a post-election uptick in mortgage rates. Despite the recent increase, interest rates are still lingering near historic lows. But, how long will the low rates last? According to a recent Zillow article, “This dramatic rate spike might level off near-term, but don’t count on a reversal back to record lows.” If the economy continues to gather momentum and inflation picks up, chances are good that the Fed will increase rates at the final policy meeting of the year in mid-December. There’s still time to act on low rates before another increase and a rate lock can help ensure that you don’t miss an opportunity! Here’s what you need to know:
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Lock Extensions Cost Money – Blame it on Investors
Written by Guest Blogger Jennifer Fortier of Stratmor Group
Originally published in Rob Chrisman’s Daily Mortgage News and Commentary
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