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We are buying a house that is to be built by October.
Whats the maximum days you can lock in a mortgage rate?
Love the rates now and don't want to get screwed in October.
I have seen 60 or 90 days, but any longer?
I've seen a 7 month lock, but for the most part 6 months is on the long end. You will likely pay about a half point premium and potentially a long-term lock fee in order to do this. I was in the same boat as you and locked in June for a December close at 6.5% (no fee, just the rate premium). We ended up closing at 5.375%. All that fear for nothing.
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