One thing is for sure, we will probably continue to see some volatility in our markets, including mortgage rates. Any decline in mortgage rates is likely to be temporary.
Author: ILG Home Loans
How Does a Mortgage Rate Lock Work?
Since interest rates can fluctuate, rate locks help borrowers feel confident that they have guaranteed themselves a rate for their loan regardless of what the economy is doing.
The 5 Biggest Things That Affect Your Mortgage Rates
Mortgage rates are affected by several things which is why you probably have a different loan rate than your friends and family.