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Mortgage Professor about locking rate: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Why Is Locking Unique to Mortgages?
August 6, 2001 "I am an economist, puzzled by the phenomena of "locking". None of the markets I have studied have anything like it. Can you explain the economics of locking in one lesson?" When ... more... What's Covered By a Mortgage Lock? June 21, 2004 "I locked my 30-year FRM at 5.5% and 1 point, but at closing I was dunned for $2800 in lender fees of various types that had never appeared on the Good Faith Estimate. Why didn?t the lock protect me against that?" A lock is designed to protect ... more... |
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locking rate related definitions |
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Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... Variable Rate Mortgage Variable Rate Mortgage The variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM is a mortgage with a rate that will adjust over time. You may be familiar with the term three year ARM, or five-year ARM. ... more... |
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More about locking rate Fixed Rate Mortgage vs. Adjustable Rate Mortgage What is a Fixed Rate Mortgage? Adjustable Rate Mortgage - How They Work? Adjustable Rate Basics Adjustable Rate Mortgage - Is This The Right Type Of Loan For Me? Is an ARM Right For You? How to Compare Fixed Rate Mortgages and Adjustable Rate Mortgages Adjustable Rate Mortgages Talking About Interest Rate Caps Adjustable Rate Mortgage Information Basics How Caps Can Protect You From Paying High Monthly Mortgage Payments
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