30 yr/ 20% down/ under 400k loan/ perfect credit

ur looking at 4.6-5.5 depends on which lender u go with. id lock in soon since the rates wont stay this low. the difference in ur payment monthly from 4.6-5 is quite a difference. good luck...

btw....smaller lenders r more aggressive than big name banks such as chase, wells fargo....

Rates are indeed really low now. Probably high 4s. But that can change at anytime. Timing is key. Someone can quote you a rate today but that rate might not be there when you want to lock. Sunny.hong@bankofamerica.com.

does it cost money to lock? say that the closing falls thru or some other mishap & u lose the place ??? im in market as well right now for a 2/2 condo in fort greene brooklyn. i dont want to miss out the low rates either. i just sense that time is running out. things seem to be really picking up although the money people say the double dip is here i just dont c the rates staying in the 4's for much longer. as it is the prices in brooklyn are going up slightly & dev.'s r less quick to sell for much under asking. thats my experience.

helphome, usually there is no extra charge for lock. However, the rate might vary based on the length of the lock. For example, 30 day lock might be 5 1/8 while 60-day lock with the same lender might get you to 5.25. You want to be comofortable that you have enough time for all processing to complete in the required time. Otherwise, lock expires and you get back to the market rate. It's a little be more involved than that so google for rate lock - I think yahoo finance has good education on mortgages.

An important point that shong brought up, is that I can quote you any rate I want if I don't have to lock today and then tell you, "hey rates have gone up in the last 2 days". The point is that you want to commit, when you are ready to lock and the interest rate quotes become meaningful. Rates posted on the web make process a bit more transparent than it used to be.

help, you need an executed contract before locking in. it seems that you're still looking, so there's no point in you finding out now.

SHong, is 4.875 ok for today to lock???? I feel like it should be lower?

thank u so much for ur good advice...i will google locks...

Jeremy - 4.625% on 30 day lock & 4.75% on a 60 day lock. There is a rate adjustment because this is a condo over 75% Loan to Value. Feel free to contact me with any qouestions at (646)519-7551 or cpotter@guardhill.com
-Chris Potter

Thanks to jessl, helphome, and guardhillpotter!! You guys are awesome. I will let you know where I end up. I think it will be around 4.75

If you can get 4.75 based on your scenario I think that's where you should like assuming the lock is long enough to cover the closing date. It will fluctuate from day to day. Sunny.hong@bankofamerica.com

20% down, good credit we are at 4.875% on 30 year jumbo today. No points. Purchase transactions only. Allie.m.Baldassari@Wellsfargo.com

I'm working on getting it lowered! Will keep you posted