interest rates: What if Rates Go Down After I have locked my rate, Can I get a lower rate? - 07/29/11 06:04 AM
 What if mortgage rates drop AFTER I have locked my rate?
Can I benefit from the lower rates, or am I stuck with the rate I locked ?
 When you lock in your rate you are protected from movements in the market that may take place befoe your loan closes.  In most cases once you lock in that protection you can not come back later and get a lower rate if the rates move lower instead of higher.  In the same way, the lender cannot come back to you and say that the rates have increased and that your rate will … (0 comments)

interest rates: Mortgage Rates and The Debt Ceiling - 07/25/11 04:01 AM
 
Mortgage markets worsened last week as the Greek  debt situation came closer to being resolved, and  the US housing market showed signs of life.
After  weeks of debate, European leaders agreed on a financial package for Greece that featured favorable loan terms designed to slow Eurozone contagion, along with a built-in, 37 billion euro “haircut” for private-sector investors.
The accord pleased Wall Street.The market rallied after the announcement and Mortgage bonds sank.
Bonds also sank after a strong home builder confidence report Monday. 
Last week, conforming and FHA fixed mortgage rates increased  and for the first time in 3 weeks. Adjustable-rate … (1 comments)