If you don't have to pay an extended lock fee, I would suggest locking. If the market improves, it isn't going to change your life, if it deteriorates, you are just going to kick yourself. It's always better to be locked, and wish you had floated, than float and wish you had locked.
get locked in, it's impossible to predict what rates will do later in the week - or tomorrow!
Lock in! the market is unpredictable and its better to be locked than not.
There is nothing obvious on the horizon that would likely give an improved rate environment. Lock now and stop worrying about what might be. The other option is to wait, see rates rise and then kick yourself for the rest of your mortgage life because you didn't. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
Lock in your rate - as others have stated you cannot tell where rates will be at the end of the week. If you are really unsteady about committing to this rate, ask your lender about a float down program - if rates happen to improve from your rate locked you will be able to float down to a lower rate during your lock period.
As others stated.. you should lock now.. there is a higher probability that rates will go up then rates going down.. .. 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. 480-287-5714 WilliamAcres.com
When to lock is one of our biggest questions... Unless there is some sort of obvious on the horizon to wait, it is almost always better to lock. It is virtually impossible to guess small changes in the market, and to then obtain the very lowest rate. Based on the market today - there is very little chance for any downward gain, and a huge possibility of rates going up.
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