Seems like they'd have to be pretty confident in their customer loyalty.

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Jan 22, 2021
1:31:26pm

SweetBabyG Starter

Seems like they'd have to be pretty confident in their customer loyalty.

120 days is plenty of time to get locked in and completely close with a different bank.

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SweetBabyG

New username: BikeGuy
Bio page: SweetBabyG
Joined: Jan 26, 2016
Last login: Dec 1, 2021
Total posts: 0 (0 FO)

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Messages

Author

Time

If you lock in a rate for refi and the rate sinks further, can't you just let

Genghis Spreads

1/22/21 12:24pm

Which is why most banks just give you the lower rate

Kajdin

1/22/21 12:39pm

I want that, but there are so many people refi'ing right now they don't have to

Genghis Spreads

1/22/21 12:41pm

Depends. Some require that 120 days have passed before they'll allow you to float down and re-lock.

mulletino

1/22/21 12:46pm

Seems like they'd have to be pretty confident in their customer loyalty.

SweetBabyG

1/22/21 1:31pm

They literally lose money whenever a loan is locked and not closed (futures contracts). So you can't just be willy-nilly

mulletino

1/22/21 1:38pm

Are you thinks rates have much left to drop?

germ1

1/22/21 1:12pm

they already have since I locked.

Genghis Spreads

1/22/21 1:16pm

Enough to make a difference?

germ1

1/22/21 1:27pm

Yes, by about $20 a month.

Genghis Spreads

1/22/21 1:35pm

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