MortgagesUndressed

Exposing Mortgage Facts And Providing A Directory of Real Estate Agent Referred Loan Officers

Lock Your Interest Rate Now

November 28th, 2006 | Category: About Rates

If you have a loan in process and you will be closing within 30 days, it is time to lock. I believe that this is one of the typical Decembers where rates will go up. Economic forces are part of it, gas prices have climbed since the election, even the dollar is having its part.

Along with economic forces December is the time of year that most mortgage employees are encouraged to take their vacations. The market is slower and that is when management can afford its processors, funders, document departments, etc. to take time off. With that in the mix, it is less a priority to be quoting low rates.

My advice - lock now. Larry Cragun

3 Comments so far

  1. MortgagesUndressed » Blog Archive » Why are people so spineless? Be a man when you post. November 30th, 2006 8:47 am

    […] CLICK HERE AND JOIN THE CONVERSATION On St. Pauls best blog. […]

  2. MortgagesUndressed » Blog Archive » Three Days Have Passed Since I Said To Lock: Did You? December 1st, 2006 5:03 pm

    […] Click here for the article where I said to lock, and why. […]

  3. MortgagesUndressed » Blog Archive » I told you to lock and you floated and now have lost. December 8th, 2006 11:38 am

    […] Rates are up 1/4% today over yesterday. On November 26th I said if you had to close your loan by December 23rd (basically within 30 days) you should lock. Click Here […]

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