Lock Your Interest Rate In!
I am going to make this very easy for you. If you are purchasing a home lock your interest rate in. Don’t Be Greedy!
If you are refinancing and the current rate makes sense and is saving you money lock it in and never look back.
Interest rates are at all time lows. Yes they can go lower but they can also go higher. It is better to be locked wishing you were floating than to be floating wishing you were locked.
Ed Conarchy, a mortgage professional, likes to say “it’s better to be on the ground wishing you were flying than to be flying wishing you were on the ground.
You can certainly reference this post if rates go lower and tell me I was wrong and that’s fine however I am not about to gamble my client’s rate away and if they drop again you can always refinance again. If they go up and you didn’t refinance you are stuck with that higher rate.