Thursday, April 18, 2013
Rate lockin', check it and see...
No, I don't have a fever of 103, but I am hot and bothered over all this rate locking stuff. I just requested the rates today for locking and my options. I'm 32 days out of the date my PM told me, so I planned on locking in on Monday, but my LO says she doesn't have the date yet, so, not sure really when I'm going to get it but I certainly don't want to lock in at a 60 day rate of 3.5% with a measly credit of .125 back at close (it's about 300 bucks) I would rather see the rate be COMPETITIVE at 3.375 on a 60 days since that's what is trending on bankrate.com (with no fees mind you) and the 30 day locks are 3.25% with no fees! I have a feeling they are just jacking that rate up and giving you the credit to make it seem like they are competitive, but I think I will try my luck with a 30 day lock.
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We have a very small incentive on our purchase agreement. We are going to be pricing with NVR and a local bank up until the last minute.
ReplyDeleteI am just nervous of what is going to happen between now and September. Another 0.25% is at least $37/month. That can add up very quickly.
Good Luck!
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