(former)FormerSanDiegan
November 29, 2010 @
4:07 PM
I can;t comment on whether I can;t comment on whether the rate you are getting is good or not. But, rate movements over periods as short as two weeks are highly unpredictable. In general I recommend to friends that when purchasing, they should lock whenever it is feasible. Rates tend to move up much more quickly (in the short term) than when they move down.
scaredyclassic
November 29, 2010 @
5:11 PM
In general I am way less In general I am way less pleased with a better outcome than I am irritated by a worse outcome. I locked as soon as I could because I would have been angry if rates went up and only marginally happier of they went down an equal amount. Everyone is different. I would never go to a casino and I Ike to have certainty in financial matters. Ymmv.
GoUSC
November 29, 2010 @
5:56 PM
We are in the process of We are in the process of refing our home and lock about a week ago at 4.375%. Rates are very volatile right now.
waiting hawk
November 29, 2010 @
7:19 PM
Id lock. The chances of Id lock. The chances of rates going lower is smaller than going up untill the fed spends more of that 600 billion into debt over the next few months. Just lock it up and refi after you close if they are lower. I paid a total of 235 bucks through sheldon for my refi. Its not that big of a deal to hold out for a couple basis points.
temeculaguy
November 29, 2010 @
7:36 PM
Lock it!!! Look at the big Lock it!!! Look at the big picture, 4.5% for the next 30 years. I’ll bet that during the next thirty years, the amount of time and the spread that rates remain below 4.5% vs the time and spread that it spends above 4.5% are so heavily in your favor it is ridiculous. If it spends one year at 3.0 and one year at 6.0 it is a wash. More than likely, during the next 30 years, deposit rates will exceed 4.5% more than once. At some point in the next decade, you will be sitting in your backyard, drinking wine with friends, talking about the current rates of 7% or 8% and feeling like a genius, quietly to yourself.
AK
November 30, 2010 @
7:22 AM
I’d lock, if only for peace I’d lock, if only for peace of mind so you can focus on the rest of the closing process.
As others have noted above, rates have been very volatile. Also interesting is what appears to be a widening spread between conventional and VA/FHA … I guess investors are pricing in the difference in risk between an explicit government guarantee and an implied government guarantee.
November 29, 2010 @ 2:48 PM
I’ll refer to the pro
I’ll refer to the pro …
http://www.homeloansheldon.com/DailyRateLockAdvisory
November 29, 2010 @ 4:05 PM
Nice one. There’s also this
Nice one. There’s also this guy:
http://themortgagedude.wordpress.com/
But your site has a better graph… 🙂
November 29, 2010 @ 4:07 PM
I can;t comment on whether
I can;t comment on whether the rate you are getting is good or not. But, rate movements over periods as short as two weeks are highly unpredictable. In general I recommend to friends that when purchasing, they should lock whenever it is feasible. Rates tend to move up much more quickly (in the short term) than when they move down.
November 29, 2010 @ 5:11 PM
In general I am way less
In general I am way less pleased with a better outcome than I am irritated by a worse outcome. I locked as soon as I could because I would have been angry if rates went up and only marginally happier of they went down an equal amount. Everyone is different. I would never go to a casino and I Ike to have certainty in financial matters. Ymmv.
November 29, 2010 @ 5:56 PM
We are in the process of
We are in the process of refing our home and lock about a week ago at 4.375%. Rates are very volatile right now.
November 29, 2010 @ 7:19 PM
Id lock. The chances of
Id lock. The chances of rates going lower is smaller than going up untill the fed spends more of that 600 billion into debt over the next few months. Just lock it up and refi after you close if they are lower. I paid a total of 235 bucks through sheldon for my refi. Its not that big of a deal to hold out for a couple basis points.
November 29, 2010 @ 7:36 PM
Lock it!!! Look at the big
Lock it!!! Look at the big picture, 4.5% for the next 30 years. I’ll bet that during the next thirty years, the amount of time and the spread that rates remain below 4.5% vs the time and spread that it spends above 4.5% are so heavily in your favor it is ridiculous. If it spends one year at 3.0 and one year at 6.0 it is a wash. More than likely, during the next 30 years, deposit rates will exceed 4.5% more than once. At some point in the next decade, you will be sitting in your backyard, drinking wine with friends, talking about the current rates of 7% or 8% and feeling like a genius, quietly to yourself.
November 30, 2010 @ 7:22 AM
I’d lock, if only for peace
I’d lock, if only for peace of mind so you can focus on the rest of the closing process.
As others have noted above, rates have been very volatile. Also interesting is what appears to be a widening spread between conventional and VA/FHA … I guess investors are pricing in the difference in risk between an explicit government guarantee and an implied government guarantee.