Should I lock in my 30 Yr. Fixed Mortgage at 4.875% or wait for lower?

Question

I need to refinance because my current 5.125% 3-year fixed rate is expiring in August. Should I roll the dice and wait or lock it in now?&#xD;&#xA;Thanks!

nostradumbass · Answer

I need to refinance because my current 5.125% 3-year fixed rate is expiring in August. Should I roll the dice and wait or lock it in now?&#xD;&#xA;Thanks!

wallstreetcappers · Answer

Well if the market goes down, they will buy bonds and rates will drop.

That said I would take 4.875 and not look back personally, if it was no points..plus you can request a float down option which allows you to lock it lower if rates drop during the time you are waiting on the refi.

be easy · Answer

wait for lower? how low, can you go?

nostradumbass · Answer

&#xD;&#xA;Well I know for a fact that it&#x27;s been lower. I just wanted to get a feel for the direction it may be headed.&#xD;&#xA;Wallstreet, thank you! I will look in to that "float down option".

JVFROMKC · Answer

i&#x27;m in the industry. What is your loan amount and the estimated value of your property? Credit score is more vital than ever when getting a mortgage. If you don&#x27;t feel comfortable emailing your information on here you can hit me up a I don&#x27;t want your business but would give you solid advice.

STEELDRC · Answer

BOL

Should I lock in my 30 Yr. Fixed Mortgage at 4.875% or wait for lower?

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