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Worrying about the US defaulting and its effect on mortgage rates
blobslosak
Posts: 8 Forumite
I'll be applying for a mortgage tomorrow and opting for a 5 year fix. Question is, at what point in the process am I immune from them increasing the rate or taking the mortgage off the market? I'm worried that if the unthinkable happens in the USA on Thursday then the best deals may be withdrawn as the world finance system reels in shock or am I being a bit too hasty with my panic?
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Comments
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USA this week, Europe next, whatever is on the horizon. Interest rates are on the way up. If you worry about tomorrow. Then you wouldn't even go out your front door.
No point in concerning yourself with matters over which you have no control. Behave in a prudent manner and look after yourself.0 -
You ordinarily secure the rate when you submit the full application to the lender.
In some cases you can 'book' the rate prior to full application.
If unsure, check with your lender.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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