I have already prepurchased a home and locked in at a 10/1 ARM for 6.125%. I have a one time chance to relock within 60 days of closing. I will be closing in about 30-45 days. Will the rate drop below this or did I lock in at a good time? I hear the Federal Reserve will be lowering rates before the end of Sept. but will they be below 6.125%?
How much will the average mortgage rate drop by the end of September?
Reply


