Monday, June 20, 2011

Question on Locking In

I'm at work right now, and all of my paperwork is at home, and I just realized that I forget when the timing is supposed to kick in that we can lock in our interest rate.  What stage of the game is that again?  Anybody know if they are still decent today?  We're really hoping to get it between 4.5 and 4.75....THANKS!!! :)
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2 comments:

  1. New Build NoobJune 20, 2011 at 2:03 PM

    I believe they are between 4.25 and 4.50 right now. I also think you can lock in 60 days prior to your closing date and it needs to be locked in within ...ohhh I want to say 14 or 10 days prior....Im not sure on that one :( I could very well be wrong on that but im pretty sure I remember my rep saying 60 days prior.

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  2. Ravenna RanterJune 20, 2011 at 4:24 PM

    Hey Newbie: I'm pretty sure you can lock in starting 60 days from your closing date. Our NVR broker let us know a couple weeks ago that the NVR rate for a conventional 30 year had dropped to 4.5, but I think they have climbed since then. We'll be closing in late September as well, I'm going to lock as soon as I can because I suspect the rates are going to start climbing again this summer. Fingers crossed!

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