 |
Subscribe / Renew |
 |
Contact Us |
| ► Subscribe to our Free Weekly Newsletter | |
Construction Bids
| home | Welcome, sign in or click here to subscribe. | login |
Real Estate
The Real Estate Adviser |
Subscriber content preview
October 6, 2005
The Real Estate Adviser: Loan locks have interesting history
By TOM KELLY
Special to the Journal
Special to the Journal
There was a time, not long ago, when rate locks were not a part of the conventional loan package. Borrowers had to pay for a lock, in addition to the loan origination fee.
When mortgage interest rates were well into double digits, the offer of a paid-for rate guarantee made a lot of sense . . . especially if the borrower could qualify for a 30-year, fixed-rate loan at 12.5 percent but did not have the income to qualify for the same loan amount at 13 percent.
. . .
To read this story in full login or purchase a subscription.
Previous columns:
- The Real Estate Adviser: When it comes to housing, women call the shots, 09-29-2005
- The Real Estate Adviser: Foreclosure rates up in once-hot markets, 09-22-2005
- The Real Estate Adviser: Who needs an agent? Probably most of us, 09-15-2005
- The Real Estate Adviser: Beachfront cabin in Australia? Forget it, 09-08-2005
- The Real Estate Adviser: What the heck is an 'active adult' anyway?, 09-01-2005
- The Real Estate Adviser: Accessibility ideas on display at B&B, 08-25-2005
- The Real Estate Adviser: College town rentals can be good deal for you and your student, 08-18-2005
- The Real Estate Adviser: Tips for U.S. citizens who buy in Canada, 08-11-2005