Any opinions on whether mortgage rates are likely to go up in next 6 weeks or so? Trying to decide on whether to get a rate lock or not. No cost to lock, but would pay a hefty fee to unlock if rates went lower. Leaning toward not locking. I’m guessing any rate changes in either direction won’t be too large anyway, so probably pretty low stakes decision?

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There should not be a fee to unlock and get a lower rate. Run for the hills and go to another mortgage lender. I suggest calling the banks directly.

hmmmm... that’s troubling. Local credit union recommended to us, but maybe we need to look around more. Ugh.

I believe if you lock a rate you have to go through refinancing if it goes lower, hence the fees. Definitely get a few quotes from lenders though. It's a buyer's market and competitive so it's worth the conversations.

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