Profile picture for case83901

should i lock a 4.375 rate today on a contruction to perm? i'm 30 days out and want to know if i sh

should push my luck on rates in the next 30 days or lock today?

  • November 18 2010 - US
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Answers (10)

Lock for a little longer than you think you will need. 
  • November 18 2010
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yes! The rates always go up in a healthy economy and at Christmas, there is increased consumption and employment. The rates are only going up!
  • November 18 2010
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Case,
If that is no points then I would lock and not look back..........don't watch rates after you lock as you would not longer be in the market!
  • November 18 2010
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Profile picture for case83901
30 yr fixed rate, 417k borrowed, 200k cash down,  800+ credit.
we did a one time close with the lender at the start of construction so i couldn't shop rates. 
  • November 18 2010
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I agree with Dave - lock today.
  • November 18 2010
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Interesting that you got answers when loan amount, credit score, loan type, loan term, any points, or state was not mentioned..........
  • November 18 2010
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I'd lock in and see if there is a float down policy.  Most lenders will give you a float down, but there will be a fee.  Regardless, rates have been trending upwards quickly.
  • November 18 2010
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Profile picture for Ellie Everson
I would try to negotiate with the lender to see if he would give you a lower rate if you locked in today.

Good luck
Ellie Everson
Century21, Fischer, Rounds & Assoc.
  • November 18 2010
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Profile picture for daveskow
lock today
  • November 18 2010
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The best way to know is pull up a graph...I would say since the trend is up then you would do well to lock it. It also depends how much your lock costs, as usually there is costing involved. If you can pull up a yearly graph that will give you the most informed opinion. In essence you are asking will the economy impove? My guess is yes take a look at the DOW today

gl

tom
  • November 18 2010
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