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I'm applying for a mortgage and I am monitoring the interest rates daily. The rates, recently, have been going up almost daily.
Do you guys think it's worth locking-in now? I am expecting to close in early January, and before I close, I have an IR float down option which I can use just once.
What should I do, lock-in now or wait some more to see if the rates would go down a bit? Please advise. BTW, the current rate that I could get is 4.5% with 0 points for a 30yr fixed rate loan.
I was not able to lock yesterday at 4.5%. I am so depressed right now.
They were not able to lock it due to the extreme market volatility yesterday. Now they are telling me that the rate is at 4.875% for 30 day lock and 4.99% for 45 day lock.
if anyone could correctly predict the direction of rates they wouldnt be posting in forums. they would be very weathy and busy telling brokerages and banks what to do ,not you.
if anyone could correctly predict the direction of rates they wouldnt be posting in forums. they would be very weathy and busy telling brokerages and banks what to do ,not you.
Lol so true
I suggest waiting if it were me
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