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When to Lock Part 2: The Right Lock Period

June 21, 2010

So, now hopefully you have enough understanding of the market conditions that contribute to mortgage pricing and securing a good rate. Stocks are down and investors are fleeing to the safety of the bond market, which has driven down mortgage lending rates. When this happens everything points to a lock. Keep in mind the timing. Will locking in a rate now give you enough time to close your loan? Because mortgage rate locks are not valid for an indefinite period of time, herein lies the second and equally important aspect of locking your loan.

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