When To Lock Mortgage Rates

“What do you think about rates … should I lock in now or wait to see if they fall further?” Think I’ve been asked that a time or two over the past 18 years? You better believe it. It’s a good question—one that goes through every single buyer’s head at some stage. A quoted interest rate is no good unless you’ve confirmed, in writing, that your loan is indeed “locked,” or guaranteed for a designated period of time.

You need to be proactive with your locked rate as well and don’t assume that your loan officer already locked you in. In fact, your loan officer shouldn’t lock in your rate without your specific instructions. If it was locked in and rates went down you’d be pretty mad, wouldn’t you? While neither real estate agents nor loan officers are in the business of predicting the future, it’s still possible to make a prudent choice in the face of uncertainty. Would you rather lock in your rate and watch rates fall or not lock in your rate and see rates go up? If you decided to lock and rates go down, you’ve secured the market rate that you were happy with. But if rates went up and you didn’t lock, you’d be paying for that mistake for the rest of the loan.

There is an even worse possible scenario: After not locking in your rate, rates shoot up and you no longer qualify for the loan.

So it’s important to ask yourself: “Which way would I rather be wrong?”

If you are comfortable with the rate you’ve been quoted, talk to your real estate agent about the possible consequences of waiting to lock it in.

Written by David Reed, author of Mortgage 101 and Mortgage Confidential.

333 W. Mifflin-Met Place Phase II Resale

We just listed another great offering in Metropolitan Place Phase II.

A great unit with southern exposure on the 5th floor above tree line and roof lines. Great views, an open floor plan and plenty of space. The kitchen has granite countertops and stainless appliances. Maple flooring throughout the living areas and carpet in both bedrooms. Bath has granite surfaces and tile floors. Enjoy the amenities of the complex with a large excercise facility and 1 acre rooftop park above the 5 story parking facility.

List Price: $269,900

For up to 30 photos of this offering and a virtual tour, visit our website.

I Just Love Dane County Farmer's Market

It is another gorgeous Saturday in Madison, WI!

I just thought I'd extol the virtues of one of Madison's treasures--The Dane County Farmer's Market.

This event happens every Saturday from late April to mid October on the capitol square.

Today the produce is really starting to roll in. Strawberries are in season, asparagus is just leaving, lettuce and other leafy greens are big. Saw our first carrots today as well.

I purchased some strawberries, sugar snap peas and 2 mint plants for my balcony herb garden (mojitos for the summer). The market isn't all fresh produce either. We bought our first pack of Jalepeno Bacon Brats from our favorite meat vendor as well. (D&G Custom Processing from Poynette) Can't wait get them on the grill.

Perfect Harmony Men's Chorus Delights Crowd at Summer Concert

Last night we had the pleasure of listening to Perfect Harmony Men's Chorus (PHMC) perform their summer concert entitled " Sail Away with Perfect Harmony".

For those who might not know, PHMC is an 11 year old group of Gay Men and Allies who typically produce 2 concerts in the Madison area each year. Last night the group performed songs about the sea, sailing and seaman (pun intended). From the opening song of "Introit" from Mass for the Sea to the uplifting end of the first 1/2 of the concert with the singing of River in Judea that the group dedicated to recently murdered community activist Felicia Melton-Smyth, the group never missed a note and the performance was very enjoyable. Adding to the performance of the singers was a very well played "fiddle" by a member of the chorus to the "Introit" piece.

The second 1/2 was a preview of the songs PHMC will be performing at this years' GALA Festival of Choirs in Miami this July. I will say this 1/2 was a little less impressive due to the inclusion of 2 pieces PHMC had commissioned for their 10th Anniversary in 2007. Neither "Tomorrow, God Willing" nor "Things that Never Die" really came off well. I truly feel neither commissioned piece was well written, thus the thud of the performance by the group. There we 2 bright moments in the second half--the opening performance of "The Awakening" and the rousing rendition of "When I Sing" with soloist and co-artistic director Ian Riddell.

If you missed last night's performance you have another chance to hear PHMC this summer. They will be performing all of their repetoire for the GALA Event as a fundraiser for the Madison Chapter of PFLAG on July 10, 2008 at the Glenwood Moravian Church located off of Monroe St., near Dudgeon school. Suggested donation for this event is $10 with 100% of proceed going to the Madison PFLAG Chapter.