Jennifer Panganiban watched the charts all year, from the January lows through the highs of July. A week ago she and her husband pounced, locking in a 30-year mortgage at 5.875 percent. Online mortgage applications are quick. An online application form takes about four minutes of your time filling it up. Approval can then be given within 24 hours. This is a far cry from the several business days it usually takes for traditional mortgage applications to be approved. In this regard, online mortgages are less time-consuming and even initially paper-free.
