Mortgage Refinance - Lock or Float

If you are in the middle of a mortgage refinance, when should you consider locking your interest rate?

Nitty Gritty Mortgage Rate Lock

Interest rates are either going up, going down or staying the same, right? So how does a homeowner know when to lock and when to float rates? Here's one way of looking at your mortgage rate lock dilemma.

Good faith estimates are frequently confused with rate guarantees. If you think that a good faith estimate and a mortgage rate lock guarantee are the same, this confusion could cost you. Mortgage Interest Rate Lock explains the differences.

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We're All About Monthly House Payments

• Always available online, you can calculate monthly house payments and print your custom amortization schedule at Home Mortgage Payment Calculator right here on this site.

• Keep up-to-date with today's mortgage rates here Online Current Mortgage Rates

• Discover Kate's Mortgage Rate Blog, your convenient source of mortgage information.

• PMI could be your solution to equity and down payment problems! Test your know-how at What Is PMI.

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Mortgage rates are published for convenience only, are not guaranteed and should not be relied upon. Rates vary with no advance warning. Ask your lender for a personalized rate quote.