With volatile interest rates, every day feels uncertain for you and your buyers. The Federal Reserve just raised the Fed Funds rate and is expected to raise it again before the end of the year.
Although mortgage rates aren’t directly tied to the Fed’s move (mortgages are tied more closely to the 10-year treasury bond), mortgage rates usually drift in the direction that the Fed is expected to move. Today’s mortgage rates already reflect the move made by the Fed at the beginning of November, but rates might increase based on an anticipated December decision.
Even if buyers haven’t found their home, they can lock now with Key Mortgage Lock & Shop. By locking in the rate today, it secures the buyer’s buying power, takes the fear out of rising rates and motivates buyers to make a quick decision.
Lock now with Key Mortgage Lock & Shop:
- Lock in a buyer’s buying power for up to 70 days (before finding a home)
- Motivate buyers to buy quickly knowing they have a time limit
- No property address required
- Buyers can take advantage of lower rates if they become available
- No additional costs
- Conforming and FHA fixed rates
Buyers and clients can discuss this opportunity to lock in a rate before finding their dream home by speaking with a Key Mortgage loan officer today. Our team is ready to move quickly to ensure that buyers are protected from future short-term rate hikes.