Ask Shop Rate: Dennis

Posted by  on Apr 16, 2009
Afer i locked in a rate with a mortgage company with a 60 days limit, can I unlock the interest rate after the rates have gone down. My closing date is Aug 21, 2008. Original rate was 6.75 no points. With 2 points and $4000.00 I obtained a rate locked in at 6.25. Did I make mistake? Any advise would be appreciated. It all depends on that particular mortgage lenders policy. Some mortgage institutions offer a renegotiation to the original rate and some do not. It is best to discuss this issue with them up front.

Looking For The Best Mortgage Rates?

Start right here...


Get Mortgage Rates by Email

  • Compare mortgage rates offline
  • Get updated rates in your inbox
  • Apply for a mortgage from your email
  • We don't spam

Get Your Rates Emailed Now!

Subscribe To Lending Lowdown
Your information will never be shared
Shoprate User Survey