Considering new construction but worried about rising rates. Is it possible to lock in rates for that long a time?

FTHB burned out after failing to find something in the last 6 months and now interested in some new construction. Found a place that looks great but worried about the rising rates. If I were to put down a deposit on a house soon, is it possible to get an interest rate locked in for 12 months? If so, would it be worth it? I’d assume so but I have no idea how much it costs to lock, if that’s even possible.

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FTHB burned out after failing to find something in the last 6 months and now interested in some new construction. Found a place that looks great but worried about the rising rates. If I were to put down a deposit on a house soon, is it possible to get an interest rate locked in for 12 months? If so, would it be worth it? I’d assume so but I have no idea how much it costs to lock, if that’s even possible. submitted by /u/flarknard [link] [comments]

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