Posts Tagged ‘primary residential mortgage’

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Mortgage Bonds are trading slightly to the negative this morning, with stocks relatively flat as well.  There is no significant economic data due out today, so it should probably be pretty quiet in the financial markets.  At the pump, gas hit a 5 year low with a national average of $1.66 per gallon (just in time for holiday travel).

I don’t expect a lot of volatility this week since the exchange shuts down early for the holidays.  As you get ready for this holiday season, remember the things most important to you, and if your answer has the word Xbox anywhere in it, you should re-evaluate.  Have a Merry Christmas!!

  • 4.750% 30 Year Fixed
  • 4.750% 15 Year Fixed
  • 4.875% 30 Year Fixed FHA
  • 5.000% 30 Year Fixed VA

For more information about your loan, call Steve Russell with Primary Residential Mortgage at 850-221-8334. Or visit

Steve Russell

Mortgage Banker

Primary Residential Mortgage

850-497-6325 Office

850-221-8334 Cell

*Rates are subject to change without notice. Click here for the specifics on the rate quotes listed above.

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Mortgage Rate Locks Are For Real

   Posted by: Cal    in Gulf Coast Mortgages

I think many borrowers are under the impression that a “rate lock” is just a verbal agreement that the loan officer and customer make and after saying it out loud and clicking your heels twice, the rate is locked.

In reality, there is a process involved with locking a rate that involves pulling credit, running the application for an approval, registering a loan number, and then running the file through a “pricing engine” to get and secure the actual rate lock based on market conditions.

Today, I had a customer that had been non-committal for the last couple of days shopping for the best rate.

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