Updated almost 6 years ago on . Most recent reply
Rate locking today or wait
Should I lock this? VA 30 year 2.875% with .125 pts. My lender is suggesting I float at least a few more days as he believes rates should go lower Or points go away. I could also get a credit with same or lower rate rather than paying the small point. I don't wanna get to greedy by waiting though so am leaning toward locking now
Most Popular Reply
Greg Scott
#3 General Landlording & Rental Properties Contributor
Pro Member
#3 General Landlording & Rental Properties Contributor
- Rental Property Investor
- SE Michigan
- 6,134
- Votes |
- 4,275
- Posts
Greg Scott
#3 General Landlording & Rental Properties Contributor
Pro Member
#3 General Landlording & Rental Properties Contributor
- Rental Property Investor
- SE Michigan
Your broker has no idea which directions rates will go. If he did, he would be making millions on Wall Street, not selling mortgages. There is a 50% chance he will be right.
The one thing I can tell you for certain is that it is unlikely that rates will drop significantly. There is not much room between 2.8% and 0%.