Refinancing my mortgage - To lock in or to not lock in....... | TigerDroppings.com
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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22879 posts

Refinancing my mortgage - To lock in or to not lock in.......

I'm currently paying 5.25% on my 30yr, and spoke with a broker this morning and I can get it down to 3.875%. Any hope we see lower rates in the next few weeks? She is telling me no, and I've worked with her previously (and is a friend of the family), but wanted to do my due dilligence.
I'm not in a position that I have to refinance, but if it's going to save me a substantial amount of money I'm going to do it.


JPLSU1981
LSU Fan
Baton Rouge
Member since Oct 2005
17630 posts

re: Refinancing my mortgage - To lock in or to not lock in.......
rates will never be lower than they are right now. The federal funds rate can not go any lower than 0. There is only one direction rates can go at this point ... Up.

Lock it in!

This post was edited on 5/20 at 2:28 pm


keeton350
Alabama Fan
Member since Nov 2005
405 posts

re: Refinancing my mortgage - To lock in or to not lock in.......
They were goin down every week for about 3 or 4 weeks, untill a week or 2 ago . Then they started going north slightly. I would lock.


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TJG210
LSU Fan
New Orleans
Member since Aug 2006
22879 posts

re: Refinancing my mortgage - To lock in or to not lock in.......
quote:

The federal funds rate can not go any lower than 0


Understood, but it also can fluctuate based on other things such as what traders on Wall St. are buying. When I was on the phone with the broker I had her look up a 20yr and it was more expensive than the 30.


lsu tigerdog
LSU Fan
Baton Rouge
Member since Nov 2007
136 posts

re: Refinancing my mortgage - To lock in or to not lock in.......
i'm a broker, 20 yrs is generally an 1/8 better. lock in - if a conventional refi, rates have been increasing the last 1.5 weeks.
what broker are you using?


TJG210
LSU Fan
New Orleans
Member since Aug 2006
22879 posts

re: Refinancing my mortgage - To lock in or to not lock in.......
American Mortgage

quote:

rates have been increasing the last 1.5 weeks


Any events in the foreseeable future that will knock rates lower? Fed meeting? Unemployment numbers?
This post was edited on 5/20 at 3:50 pm


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