Interest rate lock

[nessie2006]

I have to reserve (lock) my rate by the end of December (30 year fix rate mortgage fom PenFed). Is 4.875% good or should I wait for a lower rate?

[hawkeye33]

Well, there can be several factors that determine the rate you can get (scores, type of loan, etc.), and that's a somewhat 'crystal ball' type of question, but yes, 4.875% is in a pretty good ball park right now. Is that with no points?

[Anonymous]

I've been checking on PedFed Mortgages myself.  4.875% is with 0.125 points.  5.00% has 0 points...

[nessie2006]

I am seeing rate floating between 5.00 and 4.875 (with no points). Next time it reaches 4.875 I will lock in.