When should I lock?

Posted by Steve Dalton / Category:

For the last two months I've been highly suggesting to any and all that all homeowners looking to refinance, lock immediately upon taking mortgage loan application. Today, I'm going to suggest otherwise for the first time. Rates have risen back above 6% and I think rates will tick back down under 6% in the next two weeks.

If you are refinancing or buying a home that won't need to close for the next two weeks, I would recommend floating and awaiting this week's economic news. Some pundits are now also predicting oil will drop to $50 this summer!

I'll post more each day this week on economic news and the effects on mortgage interest rates, stay tuned or email me at steved@fftmortgage.com