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Old 10-08-2004, 08:19 AM
tek tek is offline
Senior Member
 
Join Date: Oct 2004
Location: Minneapolis
Posts: 523
Default Re: mortgage rate lock?

http://www.hsh.com/mtghst.html

Historically, rates have tended to decrease during the period Sep-Dec. 2001 has been the exception recently.

Rate locking now would be similar to betting that the trend continues. If you don't lock, you know you are "covered for a 1/4 market increase, in which case you have saved the $1k fee. Rates have not increased 1/4 during this time period, but anything can happen. Good luck.
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