It looks like interest rates are rising again. They are now hovering over 6.5% for 30 year fixed. Most banks or mortgage companies can lock your rate in for a maximum of 60 days. Locking in a rate means that a bank will honor the interest rate they give you for 60 days. If the rates go up during that time, you'll still keep the rate you were quoted.
So if you're on the fence about whether to purchase a home or not, a quick decision may save you money.
For more information about buying a home, visit http://www.newlywedhomebuyer.com/
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