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Home Loan was started to help our customers achieve their goals, and we're proud of our track record. But don't take our word for it. Here's what some of our customers have to say:

"Working with Mario [Loan Originator] at Home Loan Investment Bank made the often rocky road of refinancing smooth and almost easy. Once we sent our information to Mario he reviewed it quickly, and promptly let us know if anything was missing. We were in Arizona, the property we were refinancing was in Maine, and Mario was in Rhode Island, but working with Mario was like working with a next door neighbor!"

– Dave M.

 "In this day and age, it is rare to find true kindness, consideration and courtesy. Emily [Loan Originator] was all of those things and more. I just wanted you, her manager, to know what a really excellent job she did for us. Thank you.

– D. Gayle & Robert W.

"This is just to thank you for all of your help. We finally closed on the houses! Please know that we are very thankful to you for helping us achieve a 'new' dream in America. My husband came to America 18 years ago with one dollar in his pocket and now he owns three houses... thanks to Home Loan Bank."

– Carolina B.

"Thanks to Kristin [Loan Originator] and your bank loan, this New Year is certainly looking brighter for me and my children. I know that I am one of the many thousands of people your bank deals with on a daily basis, but I never felt like a number or an account."

– Maggie C.

"I am writing to thank your for the opportunity for us to finally bring our previously high mortgage rate down. Due to financial difficulties over the past several years, until now we have been unable to do so. The opportunity your institution has made available for us is making all the difference in us securing our financial future."

– Karen T.

 "Thank you so much for all your help on our recent loan. Your professionalism, knowledge and great customer services made it all happen."

 – Frank and Eileen S.

"I closed on a home refinance with Home Loan Investment Bank in May. Mario [Loan Originator] made the process easy and painless. Mario and Home Loan were great to work with. It was just like your neighborhood bank on the phone and over email, and they were always available to move the process forward. This was truly a once in a lifetime refinance opportunity. I have the same monthly payment for a 15 year fixed mortgage versus my old 30 year fixed mortgage. Thank you. "

– Nils M.

"Thank you for superior professionalism and just plain human compassion throughout my refinancing process."

– Sonja S.

"I have been a Real Estate Broker for over 24 years, dealt with a lot of banks, bankers and brokers and I have never been treated so kindly."

– Evelyn B.

"Lance [Loan Originator] was extremely helpful, answered all of our questions promptly, whether asked by phone or fax, and his attention to detail and follow up were commendable. It may be a level of excellence that you expect from all of your agents, but we found it exceptional and worthy of comment."

– Harold S.

"We have told other people about the great way we were treated and about the smooth refinancing experience your company and Emily [Loan Originator] provided and have referred them all to you for help in refinancing their home."

–Gay and John B.

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Locking in a low mortgage rate

Posted on Monday, March 28, 2016 at 11:27:48 AM

In the face of global uncertainty and the Federal Reserve's announcement last week that it was lowering its economic forecasts - though it kept future rate increases on the table - mortgage rates have reversed course for the first time in a month. According to Freddie Mac's most recent Primary Mortgage Market Survey, the 30-year fixed-rate mortgage is averaging 3.71 percent.

With the housing market moving into the spring buying season, these lower mortgage rates are only going to improve affordability. Purchasing a home is one of the biggest financial decisions a person can make, and it's understandable that many would hesitate to apply for residential financing until the moment seemed right. That said, it's time to stop floating mortgage loan interest rates on the chance that the numbers may slip further. Now is the time to lock in your rate. 

A lock agreement is an assurance between you and your lender that the number of days for which a loan's interest rate and points are guaranteed is protected from alteration. Even if rates were to rise in the protected period, your mortgage rate would stay the same. The opposite holds true as well. If rates were to fall in the guaranteed time frame, you would still pay what was originally agreed upon. 

Locking the interest rate isn't required. Some buyers prefer to trust that rates will continue to fall (even if the market suggests otherwise). Most, however, prefer the security of knowing that their loan won't rise out of reach just because interest rates climb before the loan closes.

With the Fed hiking the benchmark rate in December, and leaving the possibility of additional increases in play for 2016, it seems an unnecessary risk to hedge your bets. Better to lock in your rate now, while the average mortgage rate remains low.