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Besides getting qualified, the next most important step in the loan process is the lock. The lock is essentially the money you save and lock in over the life of the loan. Every year around Christmas and New Years through the middle of January the mortgage business experiences a hiccup because applications for purchases and refinances really drops off.

Whenever this happens usually one or two lenders will lead the pack and lower their rates substantially to try to capture whatever extra business they can find. This means, now is an excellent time to lock your loan for the coming year.  During the last two days (12-16 & 12-17) we have seen this begin to happen. Please check the daily rate lock advisory page to get the most recent information on the day you are checking. This is a wonderful service, and eventhough it is impossible to predict every move in the market, it is a very useful tool.

Daily Rate Lock Advisory

I can do a 45 or 60 day lock if your plans are far off in the future.