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Are rates going to go up in the near future? I'm not sure if I should lock now, or wait

by gabrielle323 from San Francisco, California. Apr 28th 2016 Reply


Blake Kleckner (BlakeK)
#390 ranked lender in California - 258 contributions

Maybe yes, maybe no. If I knew the exact answer to that question, I would be a very rich man. What I can tell you is that right now rates are quite low and have been moving marginally up and down on a daily basis for weeks, so now is a good time to lock. Are you already working with someone? If so, do you know what a good, realistic interest rate is right now for your loan, and, more importantly; what it will cost? Too many borrowers focus on a loan's interest rate and complete overlook, and misunderstand, how a loan's cost impacts the transaction. If you want to get a good idea about whether or not the loan you are considering is the best one for you, that is, if you are already working with a lender, we should talk. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to share my knowledge with you. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. If you get a chance, read some of my blogposts on Lender411. They are quite informative. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. I started doing mortgage loans in CA in 2006, and only do them there so I have an exceptional understanding of this extraordinary market. Representing more than 55 quality lenders that offer in excess of 1,000 loan programs, we definitely have something for everybody.

Apr 28th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,930 contributions

I tried my crystal ball... doesn't seem to be working. All joking aside, rates today are sitting at basically the lowest they really can be. So there is little to no room for them to get better. On the other hand, there are miles of room for the rates to go higher. All indicators point to rates moving higher. It is not if, but when. LOCK NOW!!!!

Apr 29th 2016
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

I am locking all my clients as fast as possible.

Apr 29th 2016
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

No one has a crystal ball, so it's impossible to say.. but this I know.. Rates are the lowest they've been since 1965, and if and when rates go up, it will happen fast and over a very short period of time.. and typically this is the way it works.. when rates improve, it's slow and over a long period of time, but when they go bad, it's quick and fast.. I would say don't hesitate.. go get under contract, lock your rate, 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

Apr 29th 2016
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