“Rising rates mean rising profits for lenders,” says Lisa Smith of Investopedia, “so they have every incentive to increase the rate whenever possible.”
POINTS TO REMEMB O REMEMBER:
• When looking for a loan and getting pre-approved, take your time, shop around, and don’t automatically go with the first rate or the first option given to you. • If you don’t know where to start, ask your real estate agent. • If you find a great rate, lock it in, in case the market takes a turn for the worse.
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