AP Passion at a String Blog

Locking Refinance Rates – The Decision

One of the more common questions for homeowners refinancing their home mortgage is when to lock their rate.  We all know that refinance rates can move rather significantly and quickly in either direction, which can impact the benefit of a new refinance mortgage bottom-line result.  Really, it comes down to the benefit at-hand, and whether that benefit produces the financial goal for your refinance.  If it does, then it is most likely the time to pull the trigger and lock your rate.  Also, with refinance rates currently holding and the lowest levels in history, the risk of rates moving to the upside is much more likely than a significant move to the downside.  The current position of refinance rates definitely presents a risk to refinancing homeowners that are hesitant to make a lock decision.