Should You Lock Your Mortgage Rate or Float? Understanding the Risk

Should You Lock Your Mortgage Rate or Float? Understanding the Risk Your offer was accepted. The contract is signed, the option period is underway, and you're already picturing where the couch goes. Then your loan officer asks a question that suddenly feels high-stakes: "Do you want to lock your rat

Mortgage Rate vs. APR vs. Points: Three Numbers That Buyers Constantly Confuse

Mortgage Rate vs. APR vs. Points: Three Numbers That Buyers Constantly Confuse Every Loan Estimate puts three numbers in front of you: an interest rate, an APR, and a charge for points. Buyers tend to latch onto whichever number looks best. Lenders sometimes advertise whichever number looks best, to

What Actually Happens Behind the Scenes When Your Mortgage Rate Changes?

What Actually Happens Behind the Scenes When Your Mortgage Rate Changes? You get a rate quote at 10 a.m. You call back at 2 p.m. to lock, and the number is different. Nothing about your credit, income, or the house changed. So what happened? Most people assume a mortgage rate is something a lender d

The Fed Just Raised Rates. Here's Why It's Not as Bad for Homebuyers as It Sounds

The Fed Just Raised Rates. Here's Why It's Not as Bad for Homebuyers as It Sounds "Fed Raises Rates" is a headline that makes buyers nervous. If you've been saving, getting pre-approved, or browsing homes around DFW, your first thought was probably that it just got harder to buy. Take a breath. A Fe