8 responses to “Should I lock in 30 yr mortgage interest rate now/ wait. They have risen to the highest this wk.Closing 03/30”

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  Sarah B November 7th, 2009 at 01:32

  Kim

  I used to work for a mortgage company, and my advice is to get that fixed rate. Even though an adjustable rate seems better in the beginning, it will get you in the end.

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  Mark C November 10th, 2009 at 03:05

  Annie

  Wait until after the Fed meeting March 18th.

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  Bree November 12th, 2009 at 03:56

  Rhonda

  Lock into the fixed rate now. Although interest rates are a little higher than they have been, they’re still relatively low. If you can get a rate in the low 6′s, you’re doing well. Even if the rates go down, it won’t be any more than a quarter or a half-percent. Lock in for the lowest rate you can get now.

  Whatever you do, don’t get an ARM. It will kill you financially.

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  donna c November 15th, 2009 at 03:13

  Jonathan

  hi, i thought they had just gone down and may be goin down next year too, but if u can afford the repayments on a fixed rate and r happy with them , why take a risk that they could rise??
  we are looking for 100% mortgage but have been told today that most lenders are pulling these now. but found that a tracker was cheaper.

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  Doctor Deth November 18th, 2009 at 04:27

  Alex

  if rates are going up, lock in now – too much risk in waiting

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  BabiesDaddy November 18th, 2009 at 13:31

  Chad

  Wait until the fed meets on the 18th of March. The 10 year is going to fall with the news of increases in the limits for Fannie Mae and Freddie Mac loans.

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  seafood10 November 19th, 2009 at 10:44

  Marcia

  whoever said wait for the fed doesn’t know what he/she is talking about. fed cutting rates has nothing to do with 30 yrs fixed. what is currently ur rate?

  i would lock in the rate now and get a float down. spring and summer are just right around the corners and banks know there would be more buyers and thus charge a higher rate.

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  Georgia Hess November 20th, 2009 at 06:46

  Yolanda

  I agree with the others here, you may as well lock in now. Considering how things have gone, the rates aren’t too bad right now. Yes, stay away from ARMs!