Over the last two days, falling crude oil prices, bad economic news and a bond market that has been favoring buyers combined to make today’s rate somewhere around 6.125%* I’m no economist, but think it’s fair to say that A sagging economy, absent inflation, means mortgage rates go down.
Some lenders allow you the ability to lock-in your rate. There may be a charge for that or there may not. Usually they’ll guarantee your rate will not be above X% and it may well be lower. Talk to your lender to see if locking your rate is an option and what it might mean to your personal financial situation.
If you’re ready to buy in the next month to six weeks, it could save you some money in the long run. Call me and we’ll go find the house to go with that rate– toll free 1–866–258–5899.
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One Response to “Lock ‘em if you got em Interest Rates Look Good Today”
Over the last two days, falling crude oil prices, bad economic news and a bond market that has been favoring buyers combined to make today’s rate somewhere around 6.125%* I’m no economist, but think it’s fair to say that A sagging economy, absent inflation, means mortgage rates go down.
Anne
September 5th, 2008
our CAM loan through Huntington did not have a fee for locking in a mortgage rate.