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Real Estate
The Real Estate Adviser |
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October 13, 2005
The Real Estate Adviser: Reverse mortgages now offer rate locks
By TOM KELLY
Special to the Journal
Special to the Journal
Loan locks were crafted to provide consumers with a degree of certainty in a changing home mortgage environment. As discussed last week, the practice of "locking" a borrower's home loan rate at the time of application helps to predict future monthly payments and household budgets.
For example, if you lock the rate at 6.5 percent 30 days before closing, and rates rise over the few weeks, your rate is still 6.5 percent if you close on time.
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Previous columns:
- The Real Estate Adviser: Loan locks have interesting history, 10-06-2005
- 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
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