With historically low loan rates starting to inch up borrowers should consider rate lock agreements in their home purchase and refinance activities. Locking in an interest rate freezes the terms of the loan while it’s being processed; particularly important if an increase in rates would impact your ability to qualify and/or pay for the loan.
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience
Gail, this is an extremely good piece of advise to any buyers who want the current interest rate they are quoted.
Apr 18, 2012 02:44 AM
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