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Sep 17, 2024
9:16
:53
am
tkh9
All-American
The fed cuts rates, so mortgage rates would go up?
I could be wrong but it sounds like you need a new broker. I’m no expert here but that does not make sense.
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tkh9
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tkh9
Joined
Jul 24, 2003
Last login
Sep 19, 2024
Total posts
9,071 (6 FO)
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Messages
Author
Time
Mortgage gurus - should we lock our rate today?
trueblue04
Sep 17, 9:14am
The fed cuts rates, so mortgage rates would go up?
tkh9
Sep 17, 9:16am
The thought is that the cut is already factored in, if the cut is smaller than
BYUFootballisBack
Sep 17, 9:17am
Thanks
tkh9
Sep 17, 9:25am
I thought the FED cut was already baked into the rate?
Ycrazy
Sep 17, 9:16am
Yeah there’s like 2% of projected fed cuts baked into the rate.
RdF3
Sep 17, 9:17am
What rate are they giving you today?
Virginia Ute
Sep 17, 9:22am
6.97% for jumbo loan
trueblue04
Sep 17, 9:26am
Ouch, looks like it's a construction loan, so maybe that explains how high it is
BikeGuy
Sep 17, 9:40am
Dang that is depressing.
Virginia Ute
Sep 17, 10:39am
Ask your MLO about the fee for "repricing" - there are ways you can lock today
jtm0001
Sep 17, 9:25am
One more thing - you could lock today and if they drop significantly, switch
jtm0001
Sep 17, 9:27am
Unfortunately it's the MLO tied to the builder we're using
trueblue04
Sep 17, 9:33am
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