Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina > Charlotte
 [Register]
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)
Reply Start New Thread
 
Old 06-18-2007, 11:38 AM
 
163 posts, read 586,465 times
Reputation: 53

Advertisements

Hmmm, they are going up...I think I heard 7% now??

I will be closing on a home around end Oct beginning of Nov...

Anyone have any thoughts as to whether or not I should consider locking?? Or, do you think they may drop??

TIA
Reply With Quote Quick reply to this message

 
Old 06-18-2007, 11:56 AM
 
462 posts, read 1,843,841 times
Reputation: 215
Quote:
Originally Posted by misfit View Post
Hmmm, they are going up...I think I heard 7% now??

I will be closing on a home around end Oct beginning of Nov...

Anyone have any thoughts as to whether or not I should consider locking?? Or, do you think they may drop??

TIA
I would lock now. Usually if the rates drop and the rates are lower come time to close they will go with the lower rate. Locking usually protects you from getting hung out to dry should the rates jump. I know when I locked I was told that should the rates drop we would get the lower rate at closing.
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 11:57 AM
 
10,007 posts, read 11,161,435 times
Reputation: 6303
Well, you can lock it now with a one time float down toward closing....it might be worth considering on a fixed 30 year rate..
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 03:03 PM
 
414 posts, read 1,381,215 times
Reputation: 80
You should lock because im getting screw now that im waited from the winter.
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 03:59 PM
 
85 posts, read 281,668 times
Reputation: 39
INterest is tied to the 10-year Treasury Bond, and thier prices and yields are inversely related to inflation...long story short, expect them to creep up slightly...I'd try to cap your rate now if you are planning to finance in the next 90 days...there is no science to economics, so crunch your numbers and know what the various increment changes will cost you...if you wait too long, the long-term cost will likely exceed any disadvantage of paying to cap a loan rate now. BTW: NO ONE can tell the future in finance so do your homework and crunch some numbers....it's what the banks do.
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 04:09 PM
 
Location: Fort Mill, SC (Charlotte 'burb)
4,729 posts, read 19,428,999 times
Reputation: 1027
They are going up, however our quouted rated was almost .25% higher than what we actually got (we closed a few days ago). So lock now if possible. You can always refi in the future if they go down.
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 05:25 PM
 
295 posts, read 1,061,998 times
Reputation: 95
I am going through Countrywide.Kb and they told me it was better not to lock in. It has been around a month and the rate went up over 1 point. I don't understand why they would recommend that I shouldn't lock. Are they taught to sway you from locking in on the rate?
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 05:27 PM
 
414 posts, read 1,381,215 times
Reputation: 80
Quote:
Originally Posted by Dave Mags View Post
I am going through Countrywide.Kb and they told me it was better not to lock in. It has been around a month and the rate went up over 1 point. I don't understand why they would recommend that I shouldn't lock. Are they taught to sway you from locking in on the rate?
They want to steal your money that is why. Also they always quote high interest rates. Plus there bank fees are off the charts.
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 06:04 PM
 
163 posts, read 586,465 times
Reputation: 53
I spoke to someone who said the CNN stated just this past weekend that rates will go back down (their *guess*)

Any thoughts on that?
Reply With Quote Quick reply to this message
 
Old 06-18-2007, 07:40 PM
 
Location: Charlotte
142 posts, read 608,434 times
Reputation: 49
Here is a website I found with a profesional opinion posted daily on when/if to lock
FL mortgages : FL mortgage rates and home loans

On the left, click the daily rate lock advisory.
I liked the website and thought it had good info.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
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
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


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 > U.S. Forums > North Carolina > Charlotte
Similar Threads

All times are GMT -6. The time now is 06:50 PM.

© 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