When should I lock in the rate on a mortgage ?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Due
    Confirmed User
    • Mar 2001
    • 3620
    #1

    When should I lock in the rate on a mortgage ?

    I'm building a new house and wondering when it's a good time to lock the rate on the mortgage. If US defaults on tuesday I'm sure it's going to cause a big increase on the interest rate. If not I guess it's business as usual ? We're not closing escrow till October

    Any suggestions ?
    I buy plugs
    Skype: Due_Global
    /Due
    Tags: None
    • Dead
      They left the door open
      • Apr 2003
      • 4755
      #2
      When the government decides...
      If you can get anything south of 6%, easy money. Congrats on the new digs!!!

        Comment

        • kbauerctu
          Confirmed User
          • Sep 2007
          • 197
          #3
          Originally posted by Due
          I'm building a new house and wondering when it's a good time to lock the rate on the mortgage. If US defaults on tuesday I'm sure it's going to cause a big increase on the interest rate. If not I guess it's business as usual ? We're not closing escrow till October

          Any suggestions ?

          It's still cheap money and soon it wont be. . Act now! would be my advice.

            Comment

            • Barry-xlovecam
              It's 42
              • Jun 2010
              • 18083
              #4
              Interest rates are historically low now. Barring any default, the Fed is expected to raise interest rates in 2012. Probably now is as good of a time as any ...

                Comment

                • FreeHugeMovies
                  Too lazy to set a custom title
                  • Dec 2001
                  • 14141
                  #5
                  You should be able to lock in at 4.25 or around that with good credit and 80/20 LTV

                    Comment

                    • mountainmiester
                      Confirmed User
                      • Oct 2002
                      • 509
                      #6
                      Originally posted by Due
                      I'm building a new house and wondering when it's a good time to lock the rate on the mortgage. If US defaults on tuesday I'm sure it's going to cause a big increase on the interest rate. If not I guess it's business as usual ? We're not closing escrow till October

                      Any suggestions ?
                      Unless you plan on paying for your house by selling treasure bonds for the fed, your rate aint going up cause of the default.
                      Last edited by mountainmiester; 07-29-2011, 02:50 PM.
                      Randall Crockett
                      LIMELIGHT NETWORKS
                      [email protected]

                        Comment

                        • Tempest
                          Too lazy to set a custom title
                          • May 2004
                          • 10217
                          #7
                          Do it now.. Very probable that interest rates will be going up.

                            Comment

                            • Due
                              Confirmed User
                              • Mar 2001
                              • 3620
                              #8
                              Thanks for the suggestions, waiting for the final quoute to decide if we wanna lock in the rate. Seems most people think the interest will go up
                              I buy plugs
                              Skype: Due_Global
                              /Due

                                Comment

                                • GAMEFINEST
                                  Make STACK$
                                  • Nov 2006
                                  • 14478
                                  #9
                                  pay it off with cash..
                                  Compound interest.

                                    Comment

                                    • DBS.US
                                      Geo Cities
                                      • Aug 2003
                                      • 11843
                                      #10
                                      Don't wait to long, End of the world is in 2012
                                      Have an unused domain? Make a Free Chaturbate White Label site and be making money tonight

                                        Comment

                                        • 96ukssob
                                          So Fucking Banananananas
                                          • Mar 2003
                                          • 12991
                                          #11
                                          The answer is when it is the lowest you think it will get before you close on your house
                                          Email: Clicky on Me

                                            Comment

                                            Previous template Next
                                            Working...