Monday, February 1, 2010

Mortgage Rate Lock-In

Once you are 60 days away from your closing, you can lock in your interest rate with NVR - unless you are putting 20% down, then you can lock in earlier. Today is our 60 day mark. We decided to lock in right now, with our interest rate being 5%. Rates have been rising, we didn't want to risk it.

Our house is moving along. Framing is to begin in one week. More foundation work, water-proofing, etc. is happening until then. Our project manager is doing a great job explaining everything and answering questions.

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