We got our mortgage approval today. Besides the few mistakes the broker made on the initial application paperwork, the process was easy. He hasn't come back for any other information (yet). I think we did a pretty good job of documenting our accounts, our credit is good and we've got enough liquid assets in the bank to cover the down payments - I'm sure all of these things helped the process along. It wasn't quite so easy the first time I got a mortgage; though, come to think about it, maybe it was. I only had one bank account then, no investments and no retirement account. When you've got nothing, documenting it usually ain't that difficult. :)
But, I digress.
The REAL reason for this post is that the broker told us the NVR rate is now 4.5%!
Its no 4.25% like Noey got to lock in, but its definitely headed in the right direction.
With the economy still in the crapper, unemployment rates soaring and the debt ceiling debate in DC, I expect the rate to remain at that level or lower at least through the summer. With any luck, we'll get to lock in before it goes up. And you all too!