A good tool to help you understand how loans may differ from each other is the Annual Percentage Rate or APR.  The Federal Truth in Lending law requires mortgage companies to disclose the APR when they advertise a rate.  It is designed to represent the true cost of the loan to the borrower, expressed in [...]

Generally speaking, the shorter your lock, the less it costs.  If you want to lock your rate for longer time, it will usually cost more money because a lender takes on risk to guarantee that rate for you.  So yes, generally a 30-day lock would be less, but 15 days would be even less.  Less [...]

Interest rates for 15-year fixed-rate mortgages (FRMs) and five-year adjustable-rate mortgages (ARMs) are at the lowest levels in the history of Freddie Mac’s weekly mortgage rate survey.