economy
Should you lock a mortgage rate before the next inflation report is released?
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TL;DR
- Mortgage interest rates have been increasing due to overseas conflicts, market uncertainty, and surging inflation.
- Locking in a mortgage rate before the next inflation report may prevent borrowers from facing higher rates.
- A locked rate provides clarity for budgeting and determining affordable home prices.
- Borrowers may have the option to float their rate down to a lower one before closing, or refinance in the future.