Locked vs Floating Mortgage Rate: Which Is Better?
Mortgage rates have been relatively consistent, but don't let that get you too comfortable. Rates are changing all the time --by how much, and whether it will be in your favor, we cannot say. We can make intelligent guesses, but we can't predict with any certainty.
However, that doesn't mean that you are entirely powerless when it comes to taking charge of the mortgage rate you qualify for. You hold a lot of power, including the ability to qualify for a lower rate by improving your credit score, buying points, and exploring the rates of various home loan options.
And here is another idea for getting a low mortgage rate in an uncertain market: get a floating mortgage rate.
Locked and Floating Mortgage Rate Compared
Mortgage Rate Lock
…
11076 Views, 0 Comments