Interest Rates

Written by Michael A. Foote, CMB on . Posted in Uncategorized

Over the last week interest rates have settleed down a little although they have not settled to lows seen earlier in the year.

The trick to getting the best mortgage rate, is… Well there is not secret you just have to pay attention to what your lender tells you. First choose a lender, a direct lender, that has the ability to lock their own loans. Also make sure that lender is willing to give you a lock confirmation in writing. Once you’ve applied with a company you may be able to lock your loan – you should be watching or following rates before, during, and after you lock your loan.

You must remember to lock a loan you need to apply. Some lenders have different requirements and allowances for locking your loan. It is important to get this information in writing – always.

Apply + Monitor + Direct Lender = Happy Mortgage Borrower.

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