our closing is 9/30 and i'm trying to decide if we should get a 45 day lock in now or wait a little longer so we can get a 30 day lock in. should we take the risk that mortgage rates won't go up in the next 2 weeks or should we just lock in now? right now the rate for a 30 day lock is .125% less than the 45 day lock.
DjPiLL
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Re: Lock in now or wait?
Whats the rate for the 45day lock?
bride04
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Re: Lock in now or wait?
either way the rates are not bad because we're going with a 5/1 ARM. We're buying a townhouse that we only plan to stay in a few years before buying a house. The rate for 45 days is 4.625 and the rate for 30 days is 4.5, but of course that rate could change over the next 2 weeks by the time we could lock in for 30 days
DjPiLL
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Re: Lock in now or wait?
I dunno... its your call. With an ARM its not as big a deal to lock in or not since its only a 5yr committment and you already have a lower rate than the average person.
Rates are low right now. I don't think they will go up in the next two months... but I don't see them going down either.
If it were me and I was happy with the 4.625 rate... i would just lock it. Just don't get pissed if it drops to 4.5 next week.
