Lock today on a rate or wait?

If you are closing your loan within the next two - four weeks I would lock. If closing your loan in 4+ weeks then I'd wait. Rates may be better tomorrow.

Great Question Crazy Mom! Justin is spot on. If you are close to settling, lock your rate. If you are out a ways, I would as well hold off until a later date. No current indicators are showing a big jump or big decrease in rates. Additionally, ask your loan professional what they think. They are there to answer all of your questions and advise you as well. They get paid to perform!!!!! All the best, Scott.

No one has a crystal ball, so it's impossible to say where rates will be in the future.. that all being said, we have tools which tell us where short term rates are likely to go.. but just like investing in the stock market, we can only speculate.. nothing is 100% accurate.. But this I know for sure.. when rates improve, it's a very slow and drawn out improvement.. but when rates go bad.. it happens quickly, in large chunks and over a very short period of time.. So knowing this... do you want to gamble? Do you want to risk the possibility of having to pay 1/4% to 1/2% or more in interest rate against a possible improvement of maybe a 1/8th better rate? I always advise my clients.. lock when you can and don't look back.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347