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rates

my mortgage broker has been telling me for the past two months that he can lock me in at a rate whenever and with my closing day comin up i asked him to lock me in at 5% and he kept blowing it off thinking it may go down even after i insisted< now we have a higher rate at 5.25 and he still doesnt want to lock me in assuming it may go back down i'm a little worried it may go back up, I wish he would have listened to me when i wanted to lock
  • June 03 2009 - US
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Answers (6)

I checked on mortgage websites, they show the interest rate drops a little today, maybe it will drops a little more until next week.
  • June 03 2009
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i hope so. I just feel like he's taking a bit of a gamble with my money. I wish he just would have locked me in when i asked
  • June 03 2009
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If you want to lock...tell them to lock you in or guarantee you the rate won't be any higher!
  • June 03 2009
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i asked him why he didn't lock me in and his reasoning was the company doesn't want him to lock until he gets the clear to close from the bank cause god for bid he locks me in and we dont close, it goes against him which doesnt make any sense to me when i'm already in contract, something just doesnt seem right
  • June 03 2009
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Pull through is being scrutinized, but I have a feeling he is using it as an excuse...I think the 0 point rate is closer to 5.5% and they are trying to recoup some of the losses.
  • June 04 2009
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drop that guy and do business with someone who will respect your choices!
  • June 04 2009
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