I thought the FED cut was already baked into the rate?

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Sep 17, 2024
9:16:57am

Ycrazy All-American

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Ycrazy

Bio page: Ycrazy
Joined: Apr 14, 2011
Last login: Sep 18, 2024
Total posts: 9,055 (7 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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