Just make a good guess…
It’s a lot like deciding when to lock the rate on your mortgage.
Rates are changing several times a day… so when should your loan?
Brian Brady, loan originator in Solana Beach, California, recently wrote:
Mortgage bonds were up today which is a positive indicator for lower rates. Finding that sweet spot to lock a loan (this month) is like trying to pitch a no-hitter in baseball–you get all excited with each winning trading session (inning) then something breaks (the first hit) and everything goes to hell. So, I advise borrowers to lock in the rate at application; it’s not like Bernanke is Tim Lincecum.
Rates are still way under the old standard of 6%
Tyler Oden with Suntrust Mortgage here in Tallahassee quoted a client
4.49% no points for a 30 year fixed 20% down conventional loan
4.2%no points for a 3.5% down FHA loan