Ask Kate's Mortgage Rate Lock Guarantee

My mortgage rate lock guarantee is a common sense approach to timing your lock. Are you unsure about when to lock? You are not alone. Interest rates are unpredictable and I should know! Hi, my name is Kate and I am a retired mortgage broker with an industry insider's view on locking rates.

Ups and Downs of Locking Your Mortgage Rate

For over 20 years, I personally helped thousands of people obtain mortgage financing.

So it's understandable that I developed a few sayings over the years!

In fact, my favorite saying for locking rates is...

When in doubt, lock in your rate!

Timing a Rate Lock

Here's a few common questions that borrowers asked me before locking in... Will rates go up or down tomorrow? When is the best time to lock? How do I get rates at their lowest point?

For over 20 years, I had one answer to these questions.

I called it Kate's Mortgage Rate Lock Guarantee. Today, I continue the same advice.

Tip: Learn how to compare mortgage rates and points here. New! Get my Mortgage Rate and Trends Report each Thursday at my blog.

Kate's Interest Rate Lock Guarantee

Drumroll please. Here is my guarantee.

Mortgage interest rates are guaranteed to...

  • Go up,
  • Go down, or
  • Stay the same.

That's it. Simple but oh so true.

Additionally, it's my opinion that it is better to lock sooner rather than later.

Statistics bear out the truth that gamblers lose far more than they win.

In like manner, I saw more borrowers lose than win while holding out for what they thought would be the lowest rates.

So my advice is don't be a gambler. This common sense approach can be summed up in an old saying...

A bird in the hand is worth two in the bush.

In other words, today's interest rate is most likely better than the interest rate you are holding out for.

Tip: Make sure you get answers to these important questions before locking your mortgage rate.

After all, it's your home and your mortgage. You deserve the best!

Nitty Gritty Mortgage Rate Lock Agreements

Now it's time to discover what fingernails have to do with locking in at Nitty Gritty Mortgage Interest Rate Lock Agreements.

Readers Ask Kate about Locking Mortgage Rates

Ernestine trusted the mortgage company to follow her verbal instructions to lock in her rate... How to Protect Your Locked Mortgage Rate.

New! Sources of authority for borrowers with failed lock-ins. Murky practices are still causing grief... Slippery Mortgage Interest Rates and Your Lender.

You can bet your bottom-dollar as soon as interest rates begin to climb, lock-ins get dicey... Elusive Mortgage Rate Lock Guarantee.

Rita was let down when she tried to negotiate lower interest rates... Mortgage Rate Lock Advice for First Time Home Buyer.

Roger locked his interest rate over the phone with his broker and now he's lost his lock... Broken Mortgage Rate Lock Agreement and Good Faith Estimate of Closing Costs.

If you don't understand your Good Faith Estimate, it could cost you big-time... Mortgage Closing Costs, Rate Lock Policies, and Yield Spread Premiums.

Assistance a Click Away

Haven't found what you're looking for? Here's the solution! Go ahead and Ask Kate for answers.

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