A recent dip in interest rates has folks checking back to see what rate they can get. Almost everyone wants something just slightly better. Well, in this case good things don’t always come to those that wait. We know in order to secure the rate you have to “lock-in”. When you lock-in you are basically reserving that rate for the amount of the loan until you go to close. The longer you need to close (35-45 days) the more it can cost. So, if you are just getting started you need to lock for a longer length of time. If you are almost ready to close (10 days or less) you will get the best rate out there… Think about it. Get all the paperwork done and the appraisal so you can secure the approval then you’ll be ready for that one day or that one hour when the rate dips to where you want it and then just lock and close. It’s worked for many of my clients. If you don’t do anything you are still in essence “floating” your rate while watching from the sidelines. Why not float it while being proactive at the same time?!