The Mohawk Valley


August 8th, 2011 8:51 PM by Laurie Weingart, Lic. Real Estate Broker

You still have time to lock your rate before they rise! 

"Anyone hoping to buy a home in the near future likely has some time before they'll see rates climb. Still they should ask their bank or mortgage broker about the process for locking in a rate. Mortgage rates have been at historic lows in recent months, but fixed-rate mortgages are typically directly tied to the yield on 10-year Treasury bonds. Higher mortgage rates would follow any increase in the Treasury yield. But so far it appears that Treasury yields won't rise simply as a result of the downgrade."

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Posted by Laurie Weingart, Lic. Real Estate Broker on August 8th, 2011 8:51 PM



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