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I have fixed a 30 years fixed mortgage rate at 4.5% last month with a one-time right to exercise a float down.

Today, the rate is 4.25%. Should I exercise the float down? by cbeduk890 from Atlanta, Georgia. Jan 5th 2017 Reply


Briggs Cline (bcline_154_679)
#60 ranked lender in Georgia - 55 contributions

Locked in at 4.5% last month? If you can float down to 4.25% at no cost I certainly would. But 4.5% (even last month) is pretty high --- Ii would highly advise getting at least one other quote.

Jan 5th 2017
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Joshua Nawrot (jnawro_497_179)
#52 ranked lender in Michigan - 10 contributions

Yes! Rates dipped a little in the last few days. Take advantage of it while you can.

Jan 7th 2017
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Mike and Jill Kohler (LenderMike)
#31 ranked lender in Pennsylvania - 56 contributions

I would before rates start going up even higher.

Jan 22nd 2017
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