Hi, 

I entered escrow 30 days ago on a leasehold + fee available property. My lender said he could not lock down rates until he received the fee contract from the seller. This took almost 3 weeks to receive and in that time the rates shot up. Now he's saying the rate at 0pts is 6.75%.

When I google average rates im seeing 5.5% around the nation so im very confused why mine is so much higher when my score isn't that bad. 

He also offered me 5.99% for 1pt @ 4.5k or 5.45% for 2pts at 9k. I would most likely refinance this property if rates ever came down so i'm hesitant on buying points. 

This is a 2bd 1ba in waikiki recently renovated. 

We've already filed for an extension with the seller, I doubt we'll get another one so I don't have time to find another lender. 

Should I just bite the bullet and lock in 6.75? 

Should I buy the points? 

Or just bail and wait for the markets to cool over the years?