Is there any incentive for a mortgage broker to lock you in at a higher interest rate?
November 21st, 2009
Elliot asked:
Our mortgage broker is encouraging us to wait for the interest rates to fall again despite the fact that they have increased steadily for the past three weeks. Is there a monetary incentive for him to lock us in higher? We are paying 1 point for a better rate.
Cheri
Our mortgage broker is encouraging us to wait for the interest rates to fall again despite the fact that they have increased steadily for the past three weeks. Is there a monetary incentive for him to lock us in higher? We are paying 1 point for a better rate.
Cheri
Filed under: Renting & Real Estate | Tags: Interest Rate, Interest Rates
November 21st, 2009 23:19:01
ben l
November 22, 2009
absolutely. do not think he is your friend. he has no legal responsibility to you