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How do I know if it's best to lock my interest rate or let it float?


Knowing when to lock your rate, or to continue to float, is a personal issue – it's kind of like having that Sunday afternoon football debate, whether your team should go for 2 or just take the extra point.

Interest rates change daily, hourly even. It's hard to predict what could happen. What you decide is partially related to how risk-averse you are and partially related to how strategic you want to be. We all know the game is on the line and we're here to assist. Our expert loan advisers and online mortgage rate tracking tools will keep you informed so you know the best time to lock.

Keep in mind, when you decide it's time to lock your interest rate, make sure your loan is set to close within your lock period. Your purchase contract should have an estimated closing date on it.