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Why You Should Re-Pre-Qualify Yourself Today

May 24, 2007 by Scott Kinne

Mortgage rates are surging and your prequalification letter may no longer be valid

If you’re in the process of buying a home and are working without a rate lock, take notice: over the past two weeks, mortgage rates have spiked to their highest levels since November 2006.

Your actual mortgage payment will be higher than you originally anticipated.

Depending on your preferred mortgage product, rates have increased by as much as one-half of one percent.

Mortgage experts expect the surge to continue over the next 30 days, at a minimum.

If your mortgage pre-approval is dated prior to May 9, call your lender and ask him to re-run it using today’s rates and market conditions. If you don’t have a pre-approval yet, today would be a good day to get one.

Filed Under: Uncategorized

Scott Kinne

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Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

Licensed In Maryland, Virginia, Washington D.C., West Virginia
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First Heritage Mortgage, LLC, Company NMLS ID #86548

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