Went through the process of house hunting/buying

[rileywiles23]

I'm in the same boat as you. I think it will go down at least a little just to stabilize since it shot up so fast. But no one really knows.

I locked in. It is what it is. Better for my nerves.
Especially with all the talk that the Federal reserve wants to raise interest rates in December.

[Sport]

I locked in. It is what it is. Better for my nerves.
Especially with all the talk that the Federal reserve wants to raise interest rates in December.

What rate?

[rileywiles23]

What rate?

What rate for 30 years?

4.25

[elit]

4.25

Really?  Is that high already?

[peacenlove613]

Really?  Is that high already?

Yup it was 3.65 mid October

[rileywiles23]

Yup it was 3.65 mid October

+1. Very painful indeed. Hakol bidei shamayim.

[Mordyk]

I locked in. It is what it is. Better for my nerves.
Especially with all the talk that the Federal reserve wants to raise interest rates in December.

+1.  The nerves deserve some percentage as well   i did the same a couple of months ago.  The stress was not worth the half or quarter percentage

[rileywiles23]

+1.  The nerves deserve some percentage as well   i did the same a couple of months ago.  The stress was not worth the half or quarter percentage

Couldn't agree more. Was sitting on shpilkes everyday.

[rileywiles23]

Yeah, was hard for me as well. But it appears I won't be abke to refinance now anyways....

What was hard ?

[yelped]

That it kept going up.

[yr]

Wow. Rates really shot up. I got 3.5 in July, shortly after Brexit.

[rileywiles23]

Wow. Rates really shot up. I got 3.5 in July, shortly after Brexit.

It was that rate a little more then a  month ago.

[rileywiles23]

Is there any reasons why, if rates go back down significantly over the next few weeks, that I can't cancel my existing application.
Eventhough I'd lose the application fee, based on how much rates go down, I'd potentially still come out ahead.

[CS1]

Is there any reasons why, if rates go back down significantly over the next few weeks, that I can't cancel my existing application.
Eventhough I'd lose the application fee, based on how much rates go down, I'd potentially still come out ahead.

You can do that. And you may possibly do even better at another bank with these low rates. Check it out and make sure that you still have something in place in the meantime. (In case your credit score or some other factor suddenly changes...)

[rileywiles23]

You can do that. And you may possibly do even better at another bank with these low rates. Check it out and make sure that you still have something in place in the meantime. (In case your credit score or some other factor suddenly changes...)

Right now there isn't much better. Spoken to many mortgage brokers, and as of now there isn't much of a difference. For 1/8 lower it ain't worth it.
cmiiw but one can't apply for 2 mortgages on the same property at the same time.

[elit]

Right now there isn't much better. Spoken to many mortgage brokers, and as of now there isn't much of a difference. For 1/8 lower it ain't worth it.
cmiiw but one can't apply for 2 mortgages on the same property at the same time.

Wrong!
You can run applications with multiple places will only cost you the appraisal fee. Read up thread where I and others highly recommend doing it

[rileywiles23]

Wrong!
You can run applications with multiple places will only cost you the appraisal fee. Read up thread where I and others highly recommend doing it

I'd have to pay another appraisal fee eventhough I just got a report from my current application?
Also, chase charged a apply fee where if I cancel the app. I forfeit that money. Do all banks do that ?

[elit]

I'd have to pay another appraisal fee eventhough I just got a report from my current application?
Also, chase charged a apply fee where if I cancel the app. I forfeit that money. Do all banks do that ?

Each lender requires their own appraisel.
I used brokers not banks never paid an application fee

[rileywiles23]

Each lender requires their own appraisel.
I used brokers not banks never paid an application fee

Got it. Thanks for your help.

[Sport]

I second @elit. especially the way rates are swinging these days, even if the rates go don 1/4% on a 400,000 loan youll make back the additional appraisal fee in less than a year.