When it comes to mortgage loans and interest rates, it's never a good idea to gamble. That's why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower that we work with.A mortgage loan cannot be closed without a locked-in rate, and there are three main elements to take into consideration: •· Interest Rate •· Points or fees •· Length of the lock … (0 comments)
lower rate: Fed drops rate.
- 03/25/08 07:24 PM
Long -term mortgage rates were pushed downward last week as the fed continues to aggressively provide liquidity to the struggling credit markets. The Fed slashed interest rates again by 3/4 of a point and announced direct lending to troubled financial institutions. The Office of Federal Housing Enterprise Oversight also announced an initiative that should enable Freddie Mac and Fannie Mae to pump $200 billion into the mortgage market. This helped drive rates down as Freddie and Fannie will be able to buy more loans. Experts expect loans to happen faster now. … (0 comments)
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Interest RatesWhen is the Best Time to Lock?
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