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Dani00518
Gorgeous
Member since 5/05 2730 total posts
Name:
Danielle
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Locking a Rate.....So P$SSED!... UPDATE....
Ok so since we have been in contract the rate we have been looking at was 6.25%......we figured we would wait until the fed met to lock in case they went a bit lower.....so we wait.....the fed drops the rates and now today the rate is up to 6.375% Not a big difference but definitely pisses me off. So much for holding out for a 10 day lock which was supposed to get us the best rate.
UPDATE: Ok so we waited one more day to lock and we got the 6.25% so I'm happy....although if i locked last week I would have gotten 6.125 but hey I'm still happy with my rate considering I almost got 6.375.
Message edited 9/29/2007 8:58:51 AM.
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Posted 9/27/07 8:33 PM  |
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Prudential Douglas Elliman Real Estate
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Locking a Rate.....So P$SSED!
We went through the same thing. Our rate would have been 6.25% a week ago if we would have locked. We closed yesterday wih a 6.375% rate - an increase of about $20/month for us
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| Posted 9/27/07 9:02 PM |
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SweetCin
My green-eyed boy
Member since 5/05 13499 total posts
Name:
Cin
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Re: Locking a Rate.....So P$SSED!
Well we got majorly shafted...we locked at 6.75% & then the week we closed rates dropped to about 6.50
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| Posted 9/27/07 9:52 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: Locking a Rate.....So P$SSED!
We locked too early at 6.5% and now the rates are lower. I was  the few weeks before the closing.
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| Posted 9/28/07 8:25 AM |
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cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
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Re: Locking a Rate.....So P$SSED!
The rates are really a guessing game, it's very hard to say for sure when they are going up or down and by how much.
We were fortunate to lock at 6% in late April-early May, but I think a week or two after we locked, the rates had risen to around 6.25.
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| Posted 9/28/07 10:37 AM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Locking a Rate.....So P$SSED!
same to me. i didn't lock when it was 6.375 b/c we were led to believe it was likely going to go down. it didn't - it went up and we locked at 6.5.
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| Posted 9/28/07 2:22 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Locking a Rate.....So P$SSED!
I don't know who you locked with, but with HSBC if the rate when below what we locked at, we could change it once within the locking period date
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| Posted 9/28/07 3:36 PM |
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FLaCaTaCa
Kelsey Elyse = Love
Member since 5/05 1855 total posts
Name:
Stacy
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Re: Locking a Rate.....So P$SSED!
Posted by Kara
We locked too early at 6.5% and now the rates are lower. I was the few weeks before the closing.
This is the same thing that happened to us. The rates literally went down the next day. I was pretty upset but realized it could have went up and I would have been happy so it was a game I lost.
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| Posted 9/28/07 8:04 PM |
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