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I have n't signed rate lock aggrement..I am i entitled to updated rates

I asked my mortage company to lock rate over phone this afternoon around noon. They said they will go ahead and rock rightaway. I was told that the lock aggrement be e-mailed in next few minutes but have n't gotten anything. Around 2PM I called the company again about what's going on.
I was told that the aggrement be mailed to at the end of the today.

My Question is that since  Fed tapering was cancelled, do you think the mortage rates would have been improved by this afternoon. Since I have n't signed rate lock aggrement can i request for the updated rates. Just wondering why the company is taking so much time to email the lock aggrement.

Thanks

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September 18 2013 - Ashburn
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Rates have dropped by.125% today 
==================
MBS improved by about 150 bps and you only went 0.125% better? Boy, you got hosed! 
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September 18 2013
You TOLD your LO to lock. If they locked at your direction then why do you think you should get a different rate? If it was good enough for you this afternoon, why isn't it good enough for you now?
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September 18 2013
You can't expect things to happen in real time in the mortgage biz. There are probably 100 other people excited to lock in today as well. When I submit a lock, sometimes it take a couple hours to get a confirm. If they have not locked you yet, then you can get afternoon rates,...if they are better and if you can get your LO on the line to stop the original lock from being processed. 

But your probably talking nickles and dimes,..IF rates improve again this afternoon. 

Just don't be "that guy/girl" who contacts everyday and wants to re-lock a million times because you heard something in the news. Either decide to float or lock and be done with it. Otherwise you make life miserable for you and your LO. 

I had a customer like this couple months ago who wanted a lock. Then he kept telling me rates are lower when in fact they were going up. He ended up cancelling with me because I kept telling him rates are NOT lower and he switched lenders. I found out he ended up not closing on his purchase because he went WAY past close date. I'm still waiting for him to call me to apologize for wasting my time.....lol!!  ; )
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September 18 2013
Rates have dropped by.125% today from where they started this morning. Contact me for an updated quote, if you need a 2nd opinion.
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September 18 2013

We as lenders are excited because of this news but are waiting to see how the market react's . Will the rates go down? possibly how low is the question. I personally don't think they will go down to how they were before but to answer your question, you can find out the current rates you qualify for till you lock in. Once you lock in, you cannot change the rate.

Good luck!

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September 18 2013
Obviously, this question is best posed to your loan officer with your current lender. Your LO should be able to confirm your lock over the phone, the paper confirm is just a formality.

Best wishes, Jim
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September 18 2013
 
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