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Should I lock in Mortgage Interest Rate Today?

Posted on 3/8/13 at 3:40 pm
Posted by Vlad The Inhaler
Moose Jaw, SK
Member since Sep 2008
3160 posts
Posted on 3/8/13 at 3:40 pm
Refinancing over the last 4 months has literally been my nemesis and it's like I'm being taunted by a greater force. I've been on the cusp four times and every one some observed event trumped sealing the deal: Grandparent's death, wife needs gall bladder surgery, someone promises great rate and it falls though, etc.

I finally got my shite together this week. Great deal, pulling the plug. Internet goes out at my office yesterday afternoon. Never happened before, out for an hour and a half. I finally finish my application but too late to be processed. I'm worried. Well of course, self-fulfilling prophecy of my paranoia occurs and rates have their single biggest overnight jump in 2.5 years. Nearly 1/1000 scenario comes true as a result of this cooked jobs reports. Awesome.

So, do I lock this afternoon or wait till Monday/Tuesday. I'm thinking about waiting, but everything I do is wrong. thanks for listening.
Posted by RickAstley
Reno, Nevada
Member since May 2011
2004 posts
Posted on 3/8/13 at 4:07 pm to
quote:

So, do I lock this afternoon


Does a bear shite in the woods?
Posted by Jed Zeppelin
Maurice
Member since Feb 2010
1049 posts
Posted on 3/12/13 at 10:55 am to
quote:

rates have their single biggest overnight jump in 2.5 years.


Damn it Vlad. Thanks for the info. I have been trying to re-fi for about two weeks now. Cant get anyone at the bank to call me back.

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