Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Old 05-27-2014, 03:17 PM
741 posts, read 1,751,487 times
Reputation: 223


My home is under construction and as per builder the house is on course to be ready for move in by end of July.

Given the current home loan interest scenario, which has came down to a 1 year low recently and going sideways for last couple of weeks, I am wondering, if I should lock now or wait until end of June/early July to lock. Also I am willing to take some risk but not much.

Assuming everything else is equal, what would be the benefit in terms of interest rate or closing fees for
a 60 day lock over 30 day lock or 45 day rate lock

Please advice.
Reply With Quote Quick reply to this message

Old 05-27-2014, 03:45 PM
3,804 posts, read 9,323,105 times
Reputation: 4978
The longer the lock, the higher the rate - or the higher the fee to get the same rate.

As you get close enough to pinpoint a closing date, your own Risk Aversion will be your best guide as to when to pull the trigger.

I personally would slap a 45 day lock on the thing, pay a little more if I had to, and be done with it.
Reply With Quote Quick reply to this message
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top