Would you lock right now (insurance, escrow, credit, rate)

[grannynancy]

at 6.5% for 30 year conforming with 20% down? Closing $5500 includes first year insurance and escrow. Chase Mortgage -w e can lock without committment to the actual loan.

[gentlearts]

Why not? You can always refinance later. I assume you have already shopped for rates?

[grannynancy]

Yes, the 6.5% is APR rate - I can get some quotes a little lower some a little higher but everything seems to be bouncing around right now - it sure would be good to have a feel - - - it sounds like the winds of change are that rates will go up significantly but who knows --- true, can drop down later perhaps. I guess we will apply and get the actual statement. She ran the numbers for us and I know the credit / income will check out based on another approval.