90 days...
90 days....
NVR emailed my boyfriend stating if we want to get locked in for the current interest rate. They needed an answer by 5pm today. Sheesh.
We decided to go ahead and lock our interest rate down. I mean, I know it'll go down in the future but... who knows? It's like a bloody gamble! Let's hope Ryan Homes finishes our home in time, which will be in the middle of August.
In our area, the rate locked in at 4.00% costing 0 points and 1.00% origination fee. Which will be a net cost of 1%. Original quote was 4.25%.... so my boyfriend thought it was a good idea to just go ahead and get locked. I wish it can be in the three's at least. Sigh. Our realtor was happy that we were able to get this interest rate though.
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I'm interested in what rate I will be able to lock. I have my Pre-Drywall tomorrow so I'm sure NVR will be contacting us soon about a lock. My original quote was 4.25% back when, so I'm sure we will get a similar rate. I keep looking at USAA rates that they send me daily, so it's pretty competitive.
ReplyDeleteWe just locked in our interest rate at 4.0 yesterday, same situation. Originally quoted 4.25. Maybe it will go down more but we have been following it daily and this is the lowest we've seen so far. We didn't want to gamble for much longer!
ReplyDeleteI know right! 4% sounds good to me. My boyfriend's mom told us 20+ years ago, interest rates was 7+%. Sheesh.
DeleteI also locked yesterday at 4%. I can't see it going down too much in next month. It's been hovering around 4 for some time now.
ReplyDeleteWelcome to the 4% club!
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