I was delighted when I logged onto our mortgage account yesterday morning and saw that the status of our re-finance application had changed from ‘In Process’ to ‘Approved’.
The details showed that a commitment letter will be sent out shortly and they’ll be contacting us soon to schedule closing!
It looks like rates on 30-year mortgages have stayed at their lows, but for whatever reason, the rates on 15-year mortgages have gone up 0.25% in the last couple of weeks. I had been hoping that they’d go down a little bit more so that we could get an even better deal, but I’m just fine with knowing that we locked in at a lower rate than is available now. How often does that ever happen?
Great way to head into the weekend!Copyright 2017 Original content authorized only to appear on Money Beagle. Please subscribe via RSS, follow me on Twitter, Facebook, or receive e-mail updates. Thank you for reading.