Answers (11)
- Key Lock Lending
- Contributions:100
Some lenders will offer overnight price protection although most lenders have lock cut off times that generally coincide with the close of the markets.
- zag44
- Contributions:90
Here's a comment I got on another forum -
"Depends on what stocks do this week. It's a short trading week, light volume, you'll see volatility. Any decent drop and I'd lock in cuz the Treasury bubble is popping and it ain't pretty."
"Depends on what stocks do this week. It's a short trading week, light volume, you'll see volatility. Any decent drop and I'd lock in cuz the Treasury bubble is popping and it ain't pretty."
- zag44
- Contributions:90
Thanks Rudi - I will ask my lender the questions you mentioned below on Monday.
By the way, anybody know what's in the news about which direction interest rates may be headed going into the coming week?
By the way, anybody know what's in the news about which direction interest rates may be headed going into the coming week?
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Now that you stated the reason for knowing this Zag, Zillow's rates don't matter. The only rates that matter are the rates from the lender where your loan package was submitted.
Lenders have different rates and a cost or rebate on each given rate. Ask your loan person for the daily rate sheets from this lender. At least opening day rates for you to base your decision upon. ... Best wishes, Rudi
Lenders have different rates and a cost or rebate on each given rate. Ask your loan person for the daily rate sheets from this lender. At least opening day rates for you to base your decision upon. ... Best wishes, Rudi
- zag44
- Contributions:90
Ken - I'm not relying on Zillow - just using it to gauge the direction interest rates are going throughout the day. My lender is on top of things and says just to let her know when I'm ready to lock. I already have her good faith estimate and I know what all the other fees are for my loan.
- Ken Kopper
- Contributions:1581
Please dont take this the wrong way but your lender/loan officer is the one arranging your financing not Zillow. Zillow posts an average of rates given through loan quotes and each loan request/loan quote is going to be completely unique to that specific scenario and highly depedent on each loan quoter's fee structure, etc.
Zillow may be helpful to identify movements in rates but you should not rely on it for your unique scenario.
Best of Luck to you!
Zillow may be helpful to identify movements in rates but you should not rely on it for your unique scenario.
Best of Luck to you!
- Ken Kopper
- Contributions:1581
zag44, Depending on what type of program and rate/point combination you are looking for, low 5's was attainable on Friday with reasonable costs. There was a sell off late in the day on Friday which could possibly cause a slight worsening of pricing on Monday depending on how the market opens on Monday.
- zag44
- Contributions:90
Thanks Clay - I'm in contact with my lender nearly daily. I'm also about 3 weeks from closing. I have a week or two left to lock a rate. Since they have been steadily declining over the last week I have hesitated to lock. My lender, of course, won't give me any advice as to what to do - I'm sure most lenders won't though. I was hoping to get close to 5% but obviously I don't think that will happen in the next week or so. Hopefully, I can at least get 5.25% though.
- Clay Branch, "Georgia Loans"
- Contributions:8831
zag, a few lenders will allow overnight/weekend rate protection but not near as many as in years past. Your best option is to decide on who you want to work with, then agree at what rate you want the loan locked should they see the opportunity.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
About as well as their Zestimates. .... Rudi
How do Zillow marketplace interest rates work?
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