Profile picture for user87792865

Should I lock my rate now or wait until closer to closing Oct 25th?

The current rate I was given was 3.750 and today it was 3.625%.  Wondering if it will keep trending down.

  • September 27 2013 - Lake Stevens
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (6)

Profile picture for Brookstone Mortgage
Who is quoting you these rates and for what loan product?
  • September 27 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

That's a very common question... and it's a lot like playing the stock market... will the stock rise or fall...  there is not really a solid way to predict that stuff.

Rates dipped today which was nice...  but there is no way of knowing if they will dip more or go up even more than they did the previous couple of weeks. 

Me... I'm a risk taker...  so I tend to play it until I feel like the rate is as good as it will get, and then when I lock it... is just stop looking at rates all together and move on. 

Others like to take the bird in the hand and have the "Devil you know is better than the devil you don't know" way of thinking.  

This is really up to you...  no one can really answer that question with certainty. 
  • September 27 2013
  • 2Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

More likely a 15 year or ARM.

Losing sleep waiting to see what the market will do the tomorrow is normally not worth it.  If you are comfortable with the payment and costs, lock it in and save yourself the hassle/stress.

Best of luck,

Bryan
  • September 27 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for hhbing2001
Wow, is it fixed 30 years w/o point? That sounds too good to believe. 
  • September 27 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for daveskow
NOW
  • September 27 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Are you a gambler? If not, lock!
  • September 27 2013
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.