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 (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.

1 comment:

  1. 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.

    I 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!