what to do: TO LOCK or NOT TO LOCK? THAT IS THE MORTGAGE QUESTION. 11/30/11
- 11/30/11 05:30 PM
TO LOCK or NOT TO LOCK? THAT IS THE QUESTION. Rates are holding steady, and as this article from Mortgage News Daily states, the best execution rate is 4% or under. In other words, if you are being offered a rate of 4% or under, it is a good decision to lock as rates are trending now. At 4% or 3.875%, there is more of a chance the rate will go up than it will go down, and if it goes down, it will be 1/8 to 1/4 point at most, and there is much more room for it to rise. … (2 comments)
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Kelli Crocker
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TO LOCK or NOT TO LOCK? THAT IS THE QUESTION. Rates are holding steady, and as this article from Mortgage News Daily states, the best execution rate is 4% or under. In other words, if you are being offered a rate of 4% or under, it is a good decision to lock as rates are trending now. At 4% or 3.875%, there is more of a chance the rate will go up than it will go down, and if it goes down, it will be 1/8 to 1/4 point at most, and there is much more room for it to rise. … (2 comments)
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