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Buying & Selling Real Estate

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Jack Jiang
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Should I lock the current mortgage rate for 6 months and bet?

Jack Jiang
Posted Jun 20 2022, 20:20

My mortgage broker was offering to lock the current rate (investment, 6.4%, no point) for 6 months, at the cost of 0.5% of the mortgage amount. I am thinking about whether I should take that bet or not - say I pay 2k to lock 400k of mortgage, and wait until the end of the year to buy the dip. 

Hi fellow BPers, Would this be a good idea or a terrible one? Seems to me that the interest rate is just gonna go up and up, and the market is cooling down visibly now.

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