I need to lock interest rate for atleast 180 days. One lender said it would be at 6.5 for 180 days for a .05% of the loan amount. Do you all think it's okay or should I ask for a lower rate. I have the option to extend the lock for a fee(10days/$300). They said I can lock it for 60 days for 5.7% but new home will not be ready in 60 days. Whats should I do ?
You are ASSUMING the rates will go up??? "IF" you think it will go up...I GUESS YOU MUST LOCK NOW... I would just RIDE IT OUT... 6 months is a long time...
