Will the 3/4% rate decrease affect the Fixed Rate Mortgages?

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I am in the process of a refi at 5.25% should I withdraw my application and wait for the rate drop to hit, if at all?

Will the 3/4% rate decrease affect the Fixed Rate Mortgages?

Good question. 5.25 is a darn good rate. I would probably lock it in, but it depends on how badly you need another couple of tenths of a point. You could ask a mortage broker (not the one you are working with now) what they think the time frame is for the rate going down. If it is a long time, consider the difference in the lower rate and how much more you have paid out by not taking the 5.25.

Will the 3/4% rate decrease affect the Fixed Rate Mortgages?

If you have a fixed rate mortgage, it will always stay at that rate, even if the bank or mortgage company sells your mortgage to another lender. If you have an adjustable rate, it will go down. If you're not in too much of a hurry, it couldn't hurt to wait. I always went with a fixed rate for the stability of knowing what my monthly payments would be. ARM's are too chancy, if the prime rate is low, that's great, but if interest rates soar, you're screwed.

Will the 3/4% rate decrease affect the Fixed Rate Mortgages?

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