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Answers (13)
- Clay Branch, "Georgia Loans"
- Contributions:7820
"There is an awful lot you can tell about a person by their shoes .. Where they're going, where they've been."
- Martin Wareing, "Martin Wareing"
- Contributions:3772
Morning Clay,
It's no mystery... everyone knows my spouse is an author... You are familiar with her autobigrpahy... now a DVD soon to be released right??
It's no mystery... everyone knows my spouse is an author... You are familiar with her autobigrpahy... now a DVD soon to be released right??
- Clay Branch, "Georgia Loans"
- Contributions:7820
Martin, how did you get that? I was told only the economists surveyed for economic data reports ( consensus ) could buy those.
- Martin Wareing, "Martin Wareing"
- Contributions:3772
Maybe if one drove this... it would assist one to know when the best time to lock was....... or listening to Hughey Lews and the News... Shiny too! Ask Michael J... :)
- Martin Wareing, "Martin Wareing"
- Contributions:3772
Deciding to read the date is always a difficult question, but maybe this will help:
- Clay Branch, "Georgia Loans"
- Contributions:7820
kasia closed about 6 months ago
- Merit Financial Corp
- Contributions:2
Deciding when to lock a rate is always a difficult question, there are ways to provide yourself security blankets should rates drop after you lock in - such as 'float down' options, where you can lower your rate prior to closing if the market and lender allow.
The most important thing is to decide on what you are most comfortable with for a payment, if you can lock in that rate and gain that security than a float down option, or the ability to lock in with a different investor is just a bonus.
Some smaller lenders offer 90 day locks for purchases and 60 day locks for refinances as their standard terms, locking in for longer is uncommon.
The most important thing is to decide on what you are most comfortable with for a payment, if you can lock in that rate and gain that security than a float down option, or the ability to lock in with a different investor is just a bonus.
Some smaller lenders offer 90 day locks for purchases and 60 day locks for refinances as their standard terms, locking in for longer is uncommon.
- Planners
- Contributions:322
No one knows what rates will be this afternoon, much less a month from now. I do know that rates can go up much faster than they go down. My usual advice is to look at the big picture. If it's the right house, it's the deal that's important, not micromanaging the rate lock process (which you can't do anyway). If the numbers make sense, lock them now and move on to other more important things.
Good luck.
Tom O
Good luck.
Tom O
- Joe Cafiero, "Joe Cafiero"
- Contributions:3218
Yeah Barbara..I am sure all of mortgage professionals thought all day today was just another walk in the park.
Kasia..With some lenders there is no real difference between 30 and 45 days. Check with your lender to see if there is going to be any added costs. If not you may want to consider locking in and not worrying about your rate going up.
Kasia..With some lenders there is no real difference between 30 and 45 days. Check with your lender to see if there is going to be any added costs. If not you may want to consider locking in and not worrying about your rate going up.
"There's no anticipated changes in rates of any significance so wait until you are within the 30 day period and then lock."
Wow Barbara, that's good to know. Do you mind hooking me up with this weekends California Super Lotto numbers as well?
Wow Barbara, that's good to know. Do you mind hooking me up with this weekends California Super Lotto numbers as well?
- Steve Heaney, "SteveHeaney"
- Contributions:148
The question that has had many of us "Loan Professional" eating crow last month when rates shot up a whole point in three days!!
Best advice with the recent trends would be to take a serious look at locking Friday. The immediate market has not been volatile enough to pay for a 45 day lock. Talk early and often with your loan originator starting Friday, look at the secondary market, the 10 year Treasury and if it looks like it is going up I would lock and if not do the same game Monday and so on.
Best advice with the recent trends would be to take a serious look at locking Friday. The immediate market has not been volatile enough to pay for a 45 day lock. Talk early and often with your loan originator starting Friday, look at the secondary market, the 10 year Treasury and if it looks like it is going up I would lock and if not do the same game Monday and so on.
- Barbara Gaines, "Your SCC Realtor"
- Contributions:19
There's no anticipated changes in rates of any significance so wait until you are within the 30 day period and then lock.
- Dave Skow, "daveskow"
- Contributions:1103
if market is volatile and moving up- lock now
if market is flat ..wiat until after 8/14 ( so you can use a 30 day lock)
if your loan officer states the pricing is the same for 30 and 45 day lock periods- lock now
if market is flat ..wiat until after 8/14 ( so you can use a 30 day lock)
if your loan officer states the pricing is the same for 30 and 45 day lock periods- lock now
I am having the closing on sept. 14 09. When would be the best time to lock the loan?
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