Profile picture for doubled5199

I need to lock in within the next week. Should I do it now, as rates seem to be continuing to rise

New York
  • June 06 2009 - Albany
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Answers (4)

Profile picture for MJB50
MHO... I would --- I locked in today @ 5.5%

Go to one of the calculators and see how the rate increase impacts your bottom line. Then you will see where your cut-off point is.

And if the rates start spiking near your cut off - well - you might want to give yourself some peace and lock in while you can afford the payment.

Don't beat yourself up if it goes down a little. No one seems to be able to predict what's happening next.

All the best to you.
  • June 08 2009
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Profile picture for Ray Stevens
Positive economic indicators are negatively affecting the bond market which in turn drives interest rates.  As the country continues to rebound, look for rates to continue to go up.  Fact of life.
  • June 07 2009
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If you are working with a lender, let her/him know you would like to lock in your rate. I too know of some great lenders, but we are not permitted to give them on these threads.
  • June 06 2009
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If the rates fit your budget and you have to lock soon, it's probably a good idea to lock in something that you can afford now rather than being subjected to something you cannot later.

Before you lock, call Chris Corica or Joe Cafiero and see if they can assist you. They are both top notch and will give you great service!
  • June 06 2009
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