I am in my 30 days to my closing but am not sure what to do - the rates jumped yesterday - I was just curious if anyone has locked in this week for a 30 day lock and what interest rate they received? I was quoted 5.75 on Monday - I didn't take it - Aren't they saying that the rates should be cut again? Anyone know? I hate this part!!!!
drjenn10
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Re: Anyone else locking in this week?
I locked in at the beginning of the week because I was afraid the rates may continue to rise. I'm getting 4 1/2% for a 5/1 ARM(usually has lower rates than a fixed mortgage). I wish I could tell you what to do but the market is so volatile lately I just decided to go for it. Now hopefully we close soon, I've been waiting 5 months already.
bride082003
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Re: Anyone else locking in this week?
we locked in about 2 weeks ago at 3.125%!! (ARM)
I heard the rates were suppose to drop again...
Meg9-20-02
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Re: Anyone else locking in this week?
We will probably be locking in late next week - Hopefully . . . I don't have any advice but good luck!
drjenn10
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Re: Anyone else locking in this week?
Wow, bride082003, which bank did you use? Did you get a special first time home buyers loan or other special circumstances? Congrads!
bride082003
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Re: Anyone else locking in this week?
no 1st time buyers deal, its actually a re-fi on our existing mortgage, & its through my local credit union..
missmmpr
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Re: Anyone else locking in this week?
I am having a problem figuring out what to do also. We were also quoted at 5.78%, but i heard they will drop again bc the stock market has not been doing well lately. I will wait a few days to see what happens I guess.....it is a gamble
