Locking In Mortgage Rates

by Bobbie
(Sunset, Utah, USA)

Bobbie writes about locking in mortgage rates: Kate, We purchased our house last August and at that time it felt like the mortgage rates were all over the place all the time. We thought we were closing our loan at 6 percent but 8 months later when I am looking over our mortgage statement I realize it's locked in at 6.5 percent.

***zz-c2-credit.shtml***

So we're simply going to refinance our home loan. That is the wonderful thing about a fixed rate mortgage, virtually at any time you can refinance if you see a new juicier rate that you want.

So long story short we are getting a 4.5 percent rate this time. Fantastic! Remember you're never really locked in.

Locking In Mortgage Rates

Dear Bobbie,

Thanks for contributing your refinance experience. Take a moment to bookmark Locking In Mortgage Rates to your favorites so you can return easily. You can also invite friends to comment on this page or ask another question of their own.

For other homeowners trying to decide if refinancing is worth the cost, visit Mortgage Refi Tips for help figuring a break even point.

Best Wishes,

***zz-portrait-sig-left-no-wrap.shtml***


P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

***zz-below-the-fold-affiliate-link.shtml***

***zzz-link-lock.shtml***

Return from Locking In Mortgage Rates to Get Your Best Mortgage Rate


Click here to add a comment.

You can also ask Kate about your mortgage at Refinancing Advice The Nuts and Bolts.

Recent Articles

  1. Lock Mortgage Rates - How To Avoid Hidden Fees

    Aug 06, 18 11:58 AM

    If you lock mortgage rates over the phone, how do you protect against excessive points and hidden closing costs? Learn what to do when your lock is threatened.

    Read More

  2. Finding Low Down Payment Mortgage Financing

    Aug 06, 18 11:53 AM

    Getting a low down payment mortgage: Learn the first two steps to financing niche properties in resort areas. Tip: It's not about timing the real estate market!

    Read More

  3. Ten Best Kept Secrets to Low Mortgage Payments

    Aug 06, 18 11:45 AM

    Ask Kate's secrets to low mortgage payments help homeowners understand industry lingo related to refinancing. Learn how to get your best mortgage rate!

    Read More