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Should I lock in a 20 year fixed at 3.25% today or wait later in the week?

by butchy_1264 from Hopkins, Minnesota. Jan 20th 2015 Reply


Joe Becker (JoeBecker)
#3 ranked lender in Minnesota - 57 contributions

Rate is important, but the FEE ROLLED IN for that rate is JUST as important. You can get lower than 3.25% if you are willing to pay points. Call me and we can go over the options available and I will give you advice on how to proceed. I will be in until 6:30 this evening. Thanks! 651-636-2840 Ext. 15

Jan 20th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,515 contributions

To lock or not lock is a daily question... My answer today is that rates are fantastic today. No one knows what tomorrow will bring. But where rates are today, there is little if any room for any downward gain, and a ton of room for upward loss... I suggest locking and never looking back. 3.25% today?? Are you paying discount points? Lending in MN, WI, and SD. www.MortgagesUnlimited.biz

Jan 20th 2015
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David R Youngs - Assistant Vice President (DavidRYoungs)
#66 ranked lender in Minnesota - 47 contributions

This is always a tough question. Deciding whether to "lock" in a rate or "float" on a rate is really a decision that only you can make, as each have their pros and cons. Also in addition to what the market and rate pricing is doing lately, there are many other factors that affect if a person should lock in or not. The best thing you can do is talk with a quality mortgage consultant that can explain these options clearly and provide recommendations based on your specific goals and circumstances. If you are interested in having a conversation, I would be happy to make time for you if you'd like to give me a call. Thanks!David Youngs - Senior Consultant NMLS #328679 with Progressive Lending Solutions - 651-636-2840 Ext 12 or email at dyoungs@progressivels.com

Jan 20th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,917 contributions

You should lock.. Rates go down real slow and over long periods of time, but when rates go up.. it goes fast.. 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

Jan 20th 2015
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Steven Brand (StevenBrand)
#2 ranked lender in Minnesota - 93 contributions

There's so much more that needs to be known to help you that it's frightening. Is your loan completely Clear to Close? Did you get your appraisal back yet? Do you understand the basic 4 types of Mortgage Insurance if you need to have it (MI) added? Is a 20 year loan the right choice depending on other financial goals? (have you asked your Financial Planner?) Do you have a Financial Planner?

Jan 20th 2015
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