Are You Getting the Lowest Interest Rate?

The Right Time?

The truth about interest rates is really that you really have to be in the right place at the right time.

If you are a homeowner already in the process of refinancing or seriously thinking about starting the process, you have the best chance of securing one of these rock bottom rates.

If you are a home buyer, or seriously thinking about starting the home buying process, you must rely more on timing and luck.

You can lock an interest rate as soon as you have secured a property.

There are exceptions, contact your lender or click the live chat in the upper right side of this page if you have questions about locking your interest rate as a home buyer.

Interest Rate Locks Protect You?

There are often certain criteria you must meet before you are allowed to lock in an interest rate.

Once you are in a position to lock, that’s when the fun begins!  To lock, or not to lock, that is the question.

Locking your interest rate protects you against negative movements of interest rates.

This is great news if rates get worse, you dodged a bullet, Congratulations!

The bad news is if the rates get better….in most cases, once you lock the interest rate to protect yourself against increases, you also lose the ability to take advantage of a lower rate.


Great News for Everyone

As I write this, on August 4th, 2011, It’s been 2 days now that interest rates have plunged to near all time lows.

I guess I want my final word on this to be, don’t worry so much about having to get the “lowest” rate.  If you are in a position to capitalize on these great little interest rate dips, you are having a great day!

The good news for everyone is that if and when interest rates rise again, it’s starting pretty low.  Chances are, we are going to have pretty good interest rates through the end of 2011.

I know the economy is scary out there, and I know there are a lot of home owners struggling out there, but if you’re a potential or active home buyer, these are very good times.

As always, your comments and input are encouraged below.  You can chat with us live by clicking the chat picture on the top right of this article.


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One Response to Are You Getting the Lowest Interest Rate?

  1. Guillermo August 8, 2011 at 6:10 am #

    Do you have any information on Homepath financing, such as rates, requirments, etc..?

    Is this a good program?

    Thank You for the information.