Commentary On Mortgage Rates
I apologize for this coming so late in the day. I am receiving a lot of questions on when to lock. I guess I asked for it by the advice I have been giving the last 3 weeks.
So here is my proposal to you. Check this website around 10AM Pacific Time each day if you are in a situation where you want my opinion. If I think there is a reason to float for a better rate, I will post that opinion. Of course that is self serving to me, I like your visits adding to our stats, but the intent is sincere on my part.
If you see no opinion, just know I believe the gamble is not worth it to float.
Understand also, no one knows for sure, that several large mortgage banks have gone under playing the lock game wrong.
Note also, if you are on the edge of not qualifying, it is a no-brainer to lock at application time.
Don’t be greedy. Larry Cragun
