According to a local lending expert, Drew Wright of On Q Financial, buyers now have the option to extend rate locks for much longer. This can be great for buyers that dont want to have a quick close just to maintain the low rate. This is particularly appealing to builders and borrowers that are investing in new construction. At 4.25% as of last week, rates are still amazingly low and allow borrowers to buy so much more home. If you have questions about rates or want more details, please give us a call or feel free to contact Drew Wright at OnQ Financial.