Mortgage Blog

It's ok to wait for a rate. But once a borrower
instructed loan agent to lock the rate, then it's
better to close it.

If you read my blogs, you will know that the
rate might go down further. In order to lock
the current low rates, a lot of buyers still
decided to lock the rate and proceed the
refinance.

But there are a few(only two or three) borrowers
asked me to lock the rate, and then decided
not to proceed and wait for the future rates.

I have the commitment to the lenders that
I need to deliver the file to the lender
for all locked the loans. I have high
commitments to the lenders, and that's
why I have the best rates with them.

For those borrowers, I think I will not
do the loans for them any more. I know
there are lots of agents on the market.
But for me, I will spare my time to those
who deserve my service, and the quality
service.