Time to lock in your mortgage rate

"Although still historically low, mortgage rates are rising slightly. Some analysts predict that mortgage rates will continue to increase over the next six weeks, while some forecasters expect rates to reach 7 percent by year's end. Experts recommend that consumers work with their mortgage servicer to lock in a low interest rate. A "locked" or fixed rate will provide consumers long-term savings, and allow home buyers to determine their monthly homeowner expenses several weeks before closing.

With inflation rising and some investors in mortgage-backed securities demanding higher rates to purchase bonds, home buyers should work with their broker to lock in a low interest rate."

I am happy to recommend a few mortgage brokers that will work with you through the preapproval process. They are people I trust will give you an honest assessment of market rates so you can make a more informed decision about purchasing a home.

For more info on what money is doing today, please see full article at CNN Money by clicking the title above.

Wishing you a safe & happy weekend...all the best!

Jillian