Interest Rate locked in!

I almost forgot to mention it, so much has been going on. On Tuesday we locked in our interest rate! We couldn't take it and we finally just "did it". We locked in at 4.375 with -.375 credit/discount with 1 loan origination point! I am very pleased.  The best rate if I lucked up would be 4.25 but 4.375 works just fine. I was just hoping the rates would remain at 4.5 and we went down even more. :)

Note: Each .25% reduction or addition is about $60. So if you lock in at 5% and your mortgage is $1,060.00 and the rate drops to 4.75 your rate will be $1,000.00.  I hope this helps someone.

I am happy I do not have to stalk our loan officer anymore. :)


That's it for tonight! Happy building!