Concerned About Rising Interest Rates?

With mortgage rates rising from historic lows seen throughout 2020 and 2021, many homebuyers are concerned that they may not be able to find a home before rates swell to higher levels. Mortgage rates increases are expected to continue due to a strong labor market and high inflation. What’s more, the Federal Reserve’s plans to increase the federal funds rate and taper off from asset purchases could drive up mortgage rates if they are realized.

In order to reduce anxiety over rising interest rates, Al Martinez, your mortgage pro offers a program called “Lock & Shop.” With this program, borrowers can lock in today’s low interest rate, providing potential homebuyers peace of mind while still looking for a home.

Typically, you need a purchase contract before you can lock in an interest rate on your mortgage. But with our new Lock & Shop program, you can get rate protection for up to 120 days! The Initial Lock will be converted to a Final Lock within 3 days of entering into a fully executed purchase contract with an option to a one-time float down option at that time.

Our Lock & Shop program gives you the opportunity to save money, should interest rates continue to rise, and helps you manage your homebuying budget by letting you know that you’re pre-approved for a mortgage at a specific rate.

Are you interested in securing your mortgage rates while they are still low? Give us a call at (847) 707-5300! We can discuss your financial goals and help you lock in a rate. Al Martinez can provide you with more information about our Lock & Shop program. Get pre-qualified now…