Just found this document produced by HSH Financial Publishers, the nation's largest publisher of mortgage and consumer loan information.
It explains mortgage interest rate locks in plain English. Check it out.
I just found HSH's website but am quite impressed by their Library of Articles for consumers.
I especially enjoyed HSH's article debunking the advertising that claims you can "Save $71,000!" by paying your home mortgage bi-weekly. Read all about Bi-Weekly Mortgage Conversion Programs and why most of them are scams.
Technorati tags: bi-weekly mortgage payment
HSH's website claims: For 30 years, HSH has been conducting weekly surveys of lenders from coast to coast. Their clients include media outlets, media, Fortune 500 companies, lenders, secondary marketers, Wall Street firms, state and Federal regulators, and mortgage shoppers.
HSH doesn't accept advertising, they don't take commissions or kickbacks from the lenders they survey, and they don't sell "leads" to lenders. HSH only advertise on their website (not their print publications or elsewhere), and all advertisements are clearly marked as such.
Like I said, I just found HSH online and while they look and sound credible, and I haven't found any evidence they're not, I didn't do exhaustive research. If any readers know somethig - good or bad - about HSH, please add your comments to our blog.