WHEDA temporarily suspends new rate locks

This comes from local mortgage broker, Jeff Statz:

Effective immediately, WHEDA will not accept new rate locks. WHEDA will continue to accept preapproval requests and underwrite. Current volatility in the capital markets is impacting WHEDA's costs and access to capital. Once the capital markets stabilize and WHEDA's access to low-cost capital resume, rate locks will resume.

WHEDA executive director Antonio Riley does a nice job of explaining this decision in a short video that is available from the WHEDA home page.