Deciding on the right time to lock in mortgage rates is more of an art than it is a science. The key is to be aware of what is happening with mortgage rates as you get ready to start your search for property and to watch it regularly throughout the process. Don't forget to ask the lender what programs they have, as some may allow the opportunity to take advantage of drops in rate after a lock in.
Locking in your mortgage rate allows buyers protection against fluctuating mortgage rates as you prepare to purchase a new home. It helps make the process more predictable from a financial sense, but picking the right time is important as there are often defined windows of time the lock is good for.
According to a recent article written by the National Association of Realtors, there are some criteria to apply in determining when to lock an interest rate in:
NAPLES REAL ESTATE BLOG
This section will not be visible in live published website. Below are your current settings:
Current Number Of Columns are = 2
Expand Posts Area =
Gap/Space Between Posts = 7px
Blog Post Style = card
Use of custom card colors instead of default colors = 1
Blog Post Card Background Color = current color
Blog Post Card Shadow Color = current color
Blog Post Card Border Color = current color
Publish the website and visit your blog page to see the results
FIND US AT: