Mortgage Blog

Even though the rate will go lower, we still recommend to lock
the rate. The reason is very simple. Human beings will not
like uncertainty. When you did not lock the rate, you will
feel uneasy when the rate goes up(like today). And people
will regret that they did not lock the rate earlier.

Also, even if the rate may go lower, it will not go overnight.
It will go slowly. So even if you lock the rate, secure one
of the best rates, and you don't lose anything(you can refi
4 months later).

There was an article from wall street journal yesterday suggesting
the Fed to increase the rate a little bit. Their reason is that
very cheap money for the mega banks and the big companies will
discourage them to take risks to create jobs and make some
investment. They would rather to investment in government debts
to secure low risk returns. I don't know whether Mr Ben will listen.