My fixed rate mortgage deal is due to expire soon.Is it worth locking myself into a new deal or should i wait?

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3 Responses to “My fixed rate mortgage deal is due to expire soon.Is it worth locking myself into a new deal or should i wait?”

1. cbc on: 13 November 2009 at 2:14 pm

   Check your lock rate vs the going rate that your mortgage company offers. I would lock if you’re able to lock at their lowest rate or something near it. Rates are at near record lows right now. As stated before … DO NOT get an ARM … ever. That is one of the things that got us in this poor real estate market and mortgage crisis. Rates in the future are more likely to go up and not down. The current low rates are fantastic. Lock In and be satisfied.
2. lisa g on: 13 November 2009 at 2:14 pm

   i would lock in. especially until things start balancing out and then an ARM would be a better option.
3. stevepitt2 on: 13 November 2009 at 2:14 pm

   I would lock in now. Mortgage rates are very low compared to historical rates. Do not do an ARM because the risk of rising interest rate in the next 2 – 5 years is much too fantastic.