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Are rates going to keep going down? If not, how soon can I lock at a low rate?

by shelley468 from West Stewartstown, New Hampshire. Jul 1st 2016 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

No one really knows if rates will come down more next week or not.. but this I do know.. rates are at an all time low right now, and market fluctuations happen all the time.. So when something happens and rates start to move.. they generally move down slowly, but go up fast.. so if you like to gamble.. understand that you would be risking a relatively shallow gain, vs. a high loss if you decide to want and see.. I tell all my clients.. if you like today's rate, then lock it in 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 NMLS# 226347

Jul 1st 2016
Scott Fix (ScottFix)
#1347 ranked lender in California - 184 contributions

William is right. Rates are at an all time low, but for how long........ nobody knows. Find a reputable local loan professional to help you with the loan process. Ask several people you may know who have gone through the purchase or refinance process within the past year. Get input on their experience and then, go shopping! Rates and products will vary from office to office. Once you have selected a loan professional, have them explain the interest rate vs APR, mortgage insurance....... the whole thing!!! Know the process, what you are buying etc. All the very best, Scott.

Jul 3rd 2016
Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

No one can predict what rates will do from day to day.

Jul 4th 2016
Joe Metzler (JoeMetzler)
#19 ranked lender in Minnesota - 3,981 contributions

While one never knows... It is not very wise to hold out for anything better than what is available today. Historically speaking, there is little to no room whatsoever to go lower, and a ton of room to go higher. LOCK right now, and be super happy.

Jul 5th 2016
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