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Welcome - Get the best real estate listings & homes for sale, expert advice, local info, and much more from Morris Westlund, a proven Lake Oswego, Tigard and Tualatin, Oregon NUMBER1EXPERT™ Top Selling real estate agent. Find Lake Oswego, Tigard and Tualatin Homes - Find Lake Oswego, Tigard and Tualatin, Oregon real estate listings & homes for sale provided by Morris Westlund, your local expert real estate agent. For Home Buyers - Get home buying information, the latest listings, mortgage informaiton, expert advice, and much more from Morris Westlund, a proven Lake Oswego, Tigard and Tualatin, Oregon NUMBER1EXPERT™ Top Selling real estate agent. For Home Sellers - Get home selling information, fsbo information, expert advice, find out what your home and other homes in your neighborhood are selling for, and much more from Morris Westlund, a proven Lake Oswego, Tigard and Tualatin, Oregon NUMBER1EXPERT™ Top Selling real estate agent. Lake Oswego, Tigard and Tualatin Information - Find local information on Lake Oswego, Tigard and Tualatin, Oregon including schools reports, local maps and links, things to do, area photos, and relocation information. Local information provided by Morris Westlund, a proven NUMBER1EXPERT™ Top Selling real estate agent. Real Estate Resources - Find real estate related resources including real estate news, tips, dictionary, trivia, mortgage calculators and information, local real estate related services, and much more from Morris Westlund, a proven Lake Oswego, Tigard and Tualatin, Oregon NUMBER1EXPERT™ Top Selling real estate agent. About Morris Westlund - Information about Morris Westlund including testimonials, guarantees, credentials, and contact information. Learn why Morris Westlund is a proven Lake Oswego, Tigard and Tualatin, Oregon NUMBER1EXPERT™ Top Selling real estate agent. 
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Interest Rates >Locking in Loan Rates It is important for both new homebuyers and homeowners who want to refinance to understand how to lock in an interest rate when applying for a mortgage loan. Understanding how rate locks work prepares you to evaluate your options.
While you are in the process of applying for your mortgage loan, interest rates will most likely fluctuate from day to day and week to week. If you want assurance that the wonderfully low interest rate on your loan will not increase while you are waiting for loan approval, ask for a rate lock. A conventional rate lock is a guarantee from the lender that your mortgage will carry a particular interest rate, with specific, predetermined points and fees.
The interest rate is "locked in" for a specified period of time, usually thirty days. When you call a lender for a rate quote, ask how long that rate will last for. If you think you might need more than thirty days to complete your home purchase or refinance, tell your lender how many days you will require, and they will give you an adjusted rate quote.
Rate locks are especially useful if interest rates are on the upswing, and you are concerned about ending up with higher monthly payments. If you cannot afford the risk of a further interest rate increase, lock in your loan rate now.
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