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Best day of the week to lock in mortgage rate?

Does it matter? I heard some days are riskier than others by martinlaw720893694 from Anchorage, Alaska. Mar 17th 2015 Reply


Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

Hi Martin;There is no "best day" to lock in a mortgage. Mortgage rates fluctuate with the market and can/do change per market conditions. for more information e mail me at pete.bass@everbank.com. on the web - www.everbank.com/pbass

Mar 17th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

I always suggest NOW!!.. when rates improve, it goes really slow and increases in very small increments.. but when the market deteriorates, it goes really fast and in large chunks, so the potential for a small gain is shadowed by the propensity of a rather large loss.. would you risk waiting/hoping that your payment might go down $12 at the risk of it rising $50? Lock now 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

Mar 17th 2015
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,107 contributions

I always suggest to lock as soon as you are under contract. You don't want to play the mortgage rate game. As they say in Vegas "the house always wins" and I feel more often than not, that is true if you wait to lock. Most lenders will allow a re-lock if interest rates drop more than .25%. This is not a guarantee, but is worth asking if they go .25% lower after locking. Best wishes, Sean

Mar 17th 2015
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