Lenders have been swamped with refinances over the past two weeks and the time to underwrite these loans has increased from 48 hours to 7 days. This easily puts 30-day rate locks in jeopardy. When we can forecast this, we transition to 45-day rate locks to ensure that our clients do not lose their quoted rate. Because this was unforeseen, the David M. Damare’ Team spent over $3000.00 today extending our clients rate locks to ensure they did not lose the lowest mortgage interest rates in over three years.