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Okay, so we still have to get through February – but, believe it or not, the spring housing market is just around the corner. If you were thinking about starting your house hunt in a month’s time, why not get your ducks lined up now and get a mortgage preapproval?
There are plenty of benefits to thinking a little ahead and getting a preapproval now, rather than later. For starters, fixed rates are still extremely low – you can likely find a five-year fixed rate for around 3.25%. By getting preapproved today, you can “lock in” – or attain a “rate guarantee” – for the next 120 days. If rates drop again, you’re guaranteed the lower rate.
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