How Do I Know When To Lock In A Rate On A 30 Year Conventional Mortgage?
We have a contract on a house, to close on 30 Oct, with the interest rate currently floating -- I have not locked the interest rate yet. Is there any type of indication I should watch for when deciding to lock in a rate for the loan?
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asked 2 years ago
1 Answer - Sort by: Date | Rating
Right now the market is too unpredictable to play around with a interest rate. I would suggest locking in at the lowest rate possible and make sure that you do not have a prepayment penalty,so that if the rates improve in the future you may be able to take advantage of it.
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