Rate locking today or wait

[Eric W.]

Should I lock this? VA 30 year 2.875% with .125 pts. My lender is suggesting I float at least a few more days as he believes rates should go lower Or points go away. I could also get a credit with same or lower rate rather than paying the small point. I don't wanna get to greedy by waiting though so am leaning toward locking now

[Greg Scott]

Your broker has no idea which directions rates will go.  If he did, he would be making millions on Wall Street, not selling mortgages.  There is a 50% chance he will be right.

The one thing I can tell you for certain is that it is unlikely that rates will drop significantly.  There is not much room between 2.8% and 0%.