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Podcast: Financial Residency
Episode: Mortgage Minute - Locking rates and paying points for lower rates
Description: This episode is sponsored by Eckard Enterprises. To start empowering your financial future, visit www.EckardEnterprises.com Confused on when you can or should lock your rate for a new mortgage? When you turn in a contract for a home purchase, you can lock the rate at that point or you may choose to "float the rate" if you think rates might go down before your loan closes. Also, should you spend points to get a lower rate? Maybe. You need to understand how long it would take to "break even" for the m...