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re: Should I lock in Mortgage Interest Rate Today?
Posted on 3/8/13 at 9:08 pm to RickAstley
Posted on 3/8/13 at 9:08 pm to RickAstley
What were you quoted?
You didn't lock the rate for 30 days when you went in to apply; or, does the 30 day lock only apply after you finally get off your tail and submit the paperwork?
You didn't lock the rate for 30 days when you went in to apply; or, does the 30 day lock only apply after you finally get off your tail and submit the paperwork?
1
Posted on 3/11/13 at 2:15 pm to matthew25
quote:
You didn't lock the rate for 30 days when you went in to apply; or, does the 30 day lock only apply after you finally get off your tail and submit the paperwork?
After you submit the paperwork and it's processed, you agree to lock in a rate. Typically it's automatic, except for in my case where it took an enourmous jump and warrented pause.
It went up again today. News tip--whenever I lock in, the economy will tank and send interest rates down.
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