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August 10, 2007
Locking in a Mortgage Rate
Hi,
Any advice on locking in rates given the current market fluctuations? Would you just wait it out a little or lock in as soon as possible? Also, can you lock in before you sign a contract?
Thanks (from a newbie)
Comments
You cannot lock without a contract. I'd wait it out until the markets calm down. May be a few months, however.
Posted by: Stess at August 14, 2007 12:21 AM
I was able to lock an AMAZING rate with my mortgage broker this morning, and my contract won't be signed until next week.
You don't NEED a signed contract to lock your rate, but it's a good idea to ask your attorney first before locking.
Posted by: guest at September 19, 2007 12:56 PM
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