Mortgage interest rates - should we lock in now or wait?

I'd probably lock in a rate. More houses get sold in the summer, and with it warming up, that means more sales. I would think that with more sales, interest rates would also go up. I also hear they will raise the federal debt ceiling, which could also increase interest rates. Like another poster said, this is about as low as they have been in a LONG time. I'd rather lock in now and have to pay an extra .1% than not lock in now and end up paying a lot more later own. Let's face it, they cant go down much from here, but they sure can go up a lot.

Just my thoughts, Im not a loan officer or anything

To be completely elementary, 2.75 factors is extreme for that value. there are a number of aspects that make sure your pastime value, yet a prevalent 30 twelve months fastened value with 20% down, stable credit, conventional place of abode, and finished earnings documentation is at present priced at 6% costing a million.375% on a 40 5 day lock. you should be waiting to get 5.875% or so in case you're paying that lots. so some distance as locking is going, the industry is rather risky suitable now - i might advise locking; yet there is not any thank you to tell for effective what the industry will do.

Since rates change daily and real estate is a "Time is of the Essence" industry, you may want to lock your rate now. Rates expire quickly and you can always change your loan later on down the road. You are allowed loan modifications four time during the life of the loan but only one modification a year,

Never mind them going up you need to lock in and start the process of being approved which can take months.

We're coming off about a 50 year low. Can't imagine they go lower.

Always when i ask a question, even if its the simplest one, they can't provide me a good informed answer . what happened to people that really take the time to answer??