Locking interest rates

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Extending The Lock On Your Rate Up to 360 Days!

by ritasimpson November 1, 2013 How's The Market

Jumbo-mortgage applicants are demanding long-term rate “locks” while they close on their homes. And rather than settle for the standard lock of a month or two, they’re asking lenders for commitments of as much as a year!

Rate locks provide protection and peace of mind in a rising-rate environment.┬áLong-term locks are rarely free. Borrowers who want …

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