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Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

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Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

As the title says, should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

Message 1 of 6
5 REPLIES 5
Community Leader
Super Contributor

Re: Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?


@63841 wrote:

As the title says, should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?


When do you close? Is the lock good for 30 days, 60 days? 

REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
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Message 2 of 6
Established Member

Re: Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

I'm closing on the 20th. The lock is good for 30 days. 

Message 3 of 6
Community Leader
Super Contributor

Re: Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

Looks like rates are creeping back up. Bankrate.com says 30-yr fixed at 4.09%. What interest rate are you locking at?

IMHO, if it were me, I would lock. Hopefully more MyFICOers will come along soon to provide additional advice.
REVISED GOAL: Garden ‘til Dec 2020 — 0 inquiries

Previous Goal: Garden til APR 2020 (extended) and
800 Club (accomplished)


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799
DEC 2017: EX 775, TU 778, EQ 769

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $22.2K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 4 of 6
Contributor

Re: Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

We locked ours at 3.99
But i was afraid of the increase so we locked it in asap. Im not much of a gambler though.
Whats your interest rate?
Oh were also doing VA.
Message 5 of 6
Established Member

Re: Should I lock my rate today on a 30 year fixed VA loan, or wait until the end of the week?

I went ahead and locked at 4% today.
Message 6 of 6
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