We have been getting a ton of questions about locking rates in a rising rate environment.
When we are talking about interest rates you really have 2 options, locking your rate in, or floating your rate.
When you lock your rate your rate is guaranteed not to increase for the life of your lock in agreement.
When you choose to float your rate you basically wait and see if the rates will go down any further before you commit, but just as they can have the potential to go down, they can always go up. Rates are able to change daily... and they usually do. So many people want to know... should I risk it or should I lock it?
This video was done on 2/2021 and it is currently a rising rate environment. Oddly enough, my advice doesn’t change much during a lower rate environment. My rule holds true for my borrowers “If you like it, lock it!”
Check out this video to learn more about locking rates during a rising rate environment. As always, I am here to serve so reach out anytime with questions or concerns.
If you ever have questions on rates, or would like a rate quote, or even a second opinion on a rate quote you received, give us a call we are happy to help 239-437-4278.
Looking to get started with your purchase or refinance?