Financing Solutions with David Reed
The Best time to Lock in Your Mortgage Rate
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“What do you think about rates … should I lock in now or wait to see if they fall further?â€ Think I’ve been asked that a time or two over the past 18 years? You better believe it. It’s a good question—one that goes through every single buyer’s head at some stage.
A quoted interest rate is no good unless you’ve confirmed, in writing, that your loan is indeed “locked,â€ or guaranteed for a designated period of time. You need to be proactive with your locked rate as well and don’t assume that your loan…