Why We Recommend Locking In Your Interest Rate

What are you supposed to do if rates go up while you’re under contract for a house? This can be a scary thing, but there is one thing you can do to prevent this problem, and we recommend it to all of our buyer clients—it is to lock in your rate. The only exception is if we expect rates to go down, but that is not the case currently.

Supreme Lending has an amazing program where they will lock in your rate for 180 days. That’s huge! As you probably already know, interest rates have risen exponentially recently, and they are expected to continue to rise. The Fed is meeting again next month, so depending on inflation, we will see if they increase the rate.

Therefore, if you are concerned about interest rates going up, which I believe you should be, then consider locking in your rate. Remember, you can always refinance if rates go down in the future. 

If you want to find information on Supreme Lending’s great program and how you can take advantage of it, click here.