Went through the process of house hunting/buying

[yr]

Whats the reason not to lock in at this point?

If rates go down or stay the same I lost and/or wasted money?

[Sport]

If rates go down or stay the same I lost and/or wasted money?

Ok I thought you were under the assumption that rates wont go any lower and were asking if there's any other reasons not to lock in.

[yr]

Ok I thought you were under the assumption that rates wont go any lower and were asking if there's any other reasons not to lock in.

Was just saying worst case scenario.

[dealfinder85]

Was just saying worst case scenario.

does your bank offer a free float down?

[yr]

does your bank offer a free float down?

I don't think so.

[CS1]

Was just saying worst case scenario.

rates are so low now, that you're basically getting a good deal regardless.

[elit]

Was just saying worst case scenario.

I've been hearing talk that rates will go record low so may pay to wait. What u really need is a broker that u can trust to answer this question

[dealfinder85]

I've been saying talk that rates will go record low so may pay to wait. What u really need is a broker that u can trust to answer this question

no one knows, and even if someone tells you their opinion, they wont be there to pay the extra money it cost you to wait/commit
at some point you have to take a gamble

[dealfinder85]

I don't think so.

interesting
i was in tough with 2 different companies, both of which offered float downs

[yr]

I've been saying talk that rates will go record low so may pay to wait. What u really need is a broker that u can trust to answer this question

Just spoke to my broker. He says wait.

[elit]

no one knows, and even if someone tells you their opinion, they wont be there to pay the extra money it cost you to wait/commit
at some point you have to take a gamble

Obviously but the he is seeking advice here and I'm say a trustworthy broker is more knowledge

[elit]

interesting
i was in tough with 2 different companies, both of which offered float downs

For free? Interesting.... def. Didn't have that with the few brokers I dealt with

[dealfinder85]

Obviously but the he is seeking advice here and I'm say a trustworthy broker is more knowledge

i understand
but i did this a few months ago and any time i asked someone "knowledgeable" they all confessed its a crapshoot

[dealfinder85]

For free? Interesting.... def. Didn't have that with the few brokers I dealt with

with each one i was offered 1 free float down
so i locked in to take care of the worst case scenario, and then played the game like you are playing now

[yr]

no one knows, and even if someone tells you their opinion, they wont be there to pay the extra money it cost you to wait/commit
at some point you have to take a gamble

with the market the way it is, I think I'll gamble another few days on rates going down.

[dealfinder85]

with the market the way it is, I think I'll gamble another few days on rates going down.

what are you getting quoted now? what area of the country? credit score range?

[elit]

i understand
but i did this a few months ago and any time i asked someone "knowledgeable" they all confessed its a crapshoot

I think sometimes it's a crapshoot and sometimes there are strong indicating factors

with each one i was offered 1 free float down
so i locked in to take care of the worst case scenario, and then played the game like you are playing now

Interesting

[CS1]

Just spoke to my broker. He says wait.

if a 15-yr fixed mortgage is at 2.76%, then it can't go much lower. Not much money can be saved when you're already under 3%.
Link: http://www.bankrate.com/financing/mortgages/mortgage-rates-for-monday-june-27/

[yr]

with each one i was offered 1 free float down
so i locked in to take care of the worst case scenario, and then played the game like you are playing now

I'll inquire. What do you mean by "one free".

[yr]

what are you getting quoted now? what area of the country? credit score range?

3.625, New Jersey, 740+.