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Author
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Topic: home loan Q
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hidnn.o.s.
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Member # 1219
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posted
 
 
To refi, agent calls you, says rate is 3.5%. You say ok, i will be there this afternoon. When filling out paperwork it says 3.625%. Agent says sorry it was 3.5 this morning, now is 3.625.
Im told that is BS, rates dont change like that mid day or should have locked in during phone call.
Answers from anyone who knows facts?
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R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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adower
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Member # 5955
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posted
I've seen them change overnight. They should have told you though. Sounds like they were trying to be sneaky.
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98 Cobra
Griggs
S Trim
HRE
Posts: 3327 | Registered: Aug 2005
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0089GT
FREE
PALESTINE
Member # 9996
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posted
Nope they fluctuate daily not hourly. I work at a bank
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FREE PALESTINE
Posts: 1151 | From: ssf | Registered: May 2010
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hidnn.o.s.
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Member # 1219
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posted
quote:
Originally posted by 0089GT:
Nope they fluctuate daily not hourly. I work at a bank
That's what I thought and what I was looking for, thank you
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R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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need-a-cage
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Member # 5415
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posted
Good luck with it.
I just got 2.875% with 1% discount points back at my credit union for a 15yr, so the loan was almost free. I would have so much more money now if rates were like this when we bought 12 years ago! Our first was 8.375% and we had a 10.5% 2nd to avoid PMI! I think this is my 5th refinance!!
As far as I know, you have to get the loan application filled out and be approved before you can lock the rate.
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93 LX Hatch, Dart Big Bore 347, Edelbrock 6037's, Cobra intake, Tremec, S-trim, 60# injectors, Tweecer RT
10.84 @ 128.5mph
Posts: 606 | From: Santa Rosa | Registered: Mar 2005
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1996 GT
I'm Joe Yates
Member # 4992
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posted
Rates can change in the middle of the day, but today it didn't. So i'm guessing this assclown misquoted you or is bumping up the rate to earn more of a rebate (more commission) for himself.
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Posts: 9308 | Registered: Oct 2004
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Beastly GT500 TVS
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Member # 9723
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posted
Rates can change a couple time in one day. But you can lock it in. So when they called you at 3.50% an you said yes they should have been able to lock it in there if you have already been working with them. I'm actually refi mine at 3.25% with 1.25% rebate on top of that. So cost out of pocket is very little.
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91/E85 tune by SHAUN AT AED
700HP/700TQ ON E85
10.78@129MPH 1.644 60FT
WWW.AEDHP.COM
Posts: 893 | From: 707 | Registered: Jan 2010
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