Some Mortgage Rates rising Sunday at midnight
I have received emails from 2 monolines to let us know that rates are scheduled to rise shortly on some of their products on purchases, and more may follow.
If you have just bought and are in a position to get your broker/agent to submit your application in the next 36 hours or so, it might possibly save you about 0.15%.
This doesn't necessarily apply to every product with every lender. I also am not suggesting that you throw caution to the wind in your house bidding and spend thousands more to save a few dollars a month on mortgages. It's just a heads up if you have a choice of submitting today or Sunday vs. Monday.
Getting a mortgage is like writing a test...except you're allowed to work with someone who knows the answers!
Real Mortgage Associates (FSRA #10464)