Interest Rate Locks: What You Need to Know

Real Estate

Here’s something that many probably don’t know– mortgage rates can change daily and in times of somewhat volatility, they can change during the course of a business day. This can mean getting rate information from a lender in the morning and calling back in the afternoon to lock in that rate to find rates are higher than earlier in the day. A common reaction might be to think it’s a “bait and switch” approach, but in reality, it’s the market.

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