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Locking in Rates
Posted on 6/22/10 at 1:29 pm
Posted on 6/22/10 at 1:29 pm
Closing in on 50 days from completion on house. RIght now I'm looking at a 50 day lock at 4.5% or waiting on a 30 day lock (currently at 4.375).
Should I:(a)grab up the 4.5%; or (b) wait about 3 weeks to see what kinda 30 day rate I can get.
In other words, do you expect rates to go up, down, or not change in the next 30 days? Assume that the builder is 100% on making substantial completion by the 50 day mark.
I'm leaning toward waiting until the 30 day mark. I don't think that the rates will increase to the point that the 4.375% 30 day will exceed the 4.5% 50 day. What say the board's mortgage gurus?
Should I:(a)grab up the 4.5%; or (b) wait about 3 weeks to see what kinda 30 day rate I can get.
In other words, do you expect rates to go up, down, or not change in the next 30 days? Assume that the builder is 100% on making substantial completion by the 50 day mark.
I'm leaning toward waiting until the 30 day mark. I don't think that the rates will increase to the point that the 4.375% 30 day will exceed the 4.5% 50 day. What say the board's mortgage gurus?
1
Posted on 6/22/10 at 1:58 pm to bendellee
I just talked to the managers of a multi billion dollar residential mortgage backed security fund and they basically said they had no idea where rates were going, FWIW.
** translated into laymen's terms from their thoughts on interest rate risk.
** translated into laymen's terms from their thoughts on interest rate risk.
Posted on 6/22/10 at 2:09 pm to TheHiddenFlask
quote:At least they're honest. Thx.
I just talked to the managers of a multi billion dollar residential mortgage backed security fund and they basically said they had no idea where rates were going, FWIW
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