Protect Yourself Against Rising Rates

The ‘Lock and Shop’ Program is the Solution You Need.

Lock and Shop is an official Citizens Bank program that locks in today’s rates for tomorrow’s property!?

Both the real estate and interest rate markets have been having quite a 2022 so far. The local real estate markets have been in some of the hottest territory that we've seen in many years, with bidding wars becoming common and prices continuing to go higher.??

Interest rates have been low for several years now, but they have already started to rise, and it is very likely that we will see higher mortgage rates by the end of this year. A combination of factors is impacting this:?

• the spiking price of oil
• the rising national and international inflation rate
• the war in Ukraine
• continuing supply chain issues

I have a way for you to protect yourself against this uncertainty - Lock and Shop?

The basics of how Lock and Shop works:

1. Contact me to complete an online application to lock a rate in for 90 days.
2. Be in contract with a property within 30 days of locking.
3. If rates go lower before closing, a “float down” option is available.
4. If a contract is not entered within 30 days of locking, the lock falls off and there is no cost to you.

You can lock a rate now at no cost, without having a property yet!

This has been a very popular program during this increasing rate environment, and it may be a good fit for you.

Contact me to discuss any questions you have about how this program could work with your planning.

Connect soon, Jim