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Lock in rate today or wait until the day before Christmas it seemed the day before Thanksgiving was very low, we have time until the end of the year is there a typically low day like the day before thanksgiving

By ziric164 from MO Dec 5th 2014

If the rate is where you would like to be then I recommend locking your rate, However... There is no rhyme or reason as to which days the interest rates will be lower. (Similar to stocks going up and down no one really knows) If your loan is complex, meaning you own multiple properties or you are self employed,(anything other than a simple w2 loan) then it may be a better idea to wait on locking your loan. In my experience, the lenders take much longer to underwriter the complex files and they take much longer to close. Even if they initially say it will take 30 days to close most often it takes longer and the result of that delay means will end up paying a cost to extend your lock if you have already chosen to lock it. Even more so the cost relocking a jumbo loan can be quite significant, The rates have been pretty steady, they may go up between .125 to .50, but overall the rates are historically low. If you need to lower your rate do so while you can. Call me to discuss your mortgage needs. (951)452-9113 Stephanie Tourtellotte

Dec 8th 2014

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