In this video you will get advice on whether to lock or float and other information about the mortgage bond market.
I also introduce a new value-added thing we can do for our Realtor partners and their clients: forward mortgage commitments which means we can lock loans for up to 1 year. Since interest rates are trending up and will probably accelerate that trend due to the soon-to-be tapering of the quantitative easing program and its eventual end, being able to lock in an interest rate today is a great thing.
What makes this even better is that we can lock on TBDs (no property address needed) or you can use it to lock a loan that is waiting on a short sale approval from the seller's lender. By being able to offer this, you are able to real in the buyer so that they won't even consider using another Realtor. We can also "float" down if by some chance rates are better then what the client locked at.
For details, please call me at 702-812-1214. Feel free to comment and share your thoughts. Make today great.
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