That guy doesn’t know…but…you could ask him if he has a one time relock/one time float down etc. Some companies will allow you to relock if the market drops enough. They typically charge/adjust .125 for example so if the rates drop .500/half percent from your original lock you can get your rate .375 lower…if you want a safety net for your FOMO…but anyone spitting that type of chatter is a little too out there for me…that’s a complete guess from him.
@Chandler
Thanks for your response! I will consider locking in and not waiting for January. I would hate it if rates climb mid 7s.
Have you shopped around? I got a quoted 5.725 15yr ARM or 5.875 fixed from a federal credit union.
Peyton said:
Have you shopped around? I got a quoted 5.725 15yr ARM or 5.875 fixed from a federal credit union.
Woah! That is a super low rate. I did shop around but got upper six and even lower sevens. Would you mind sharing who was the lender? Thank you for your response!
Be realistic, businesses are expecting changes declared by president elect, so they need to stock goods and materials to be ready for mass deportations, tariffs, world war 3 preparation etc, so they will hunt for money. Where you get money for large business? You borrow it. When banks can offer you a loan on higher rate, there is no need for them to dump this cash into 10Y bonds, that means, that yield on these bonds should grow. Do you see a trend for this yield to fail? I’m not. If someone can predict markets so easy, they can short against this bond now and get a decent amount of money during the last week of January 2025
@Presley
I agree with what you said. I think locking in right now is the best and the safest way to go. Thanks for your response!
I guarantee rates will be between 5 and 9 percent at the end of January 2025.
Hayden said:
I guarantee rates will be between 5 and 9 percent at the end of January 2025.
lol! I am glad I posted here else I would have fallen for those rate drops and would have ended up with a much higher rate.
Feds announce rate decision tomorrow and the wording that goes along with the decision will show the future policy and temporary rate hikes
They need to eliminate Powell yesterday. Get rid of the entire board of Fed Reserve. They accomplished their mission of kneecapping working Americans and inflation is still sky high