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(US, California) Is it worth getting another hard credit check to get a lower mortgage interest rate?

Here's the situation:

In Escrow for a house. We close on April 10. Wife's Current Credit Score 810+ My Current Credit Score 805+

We went into escrow right when the mortgage rates went crazy after the recent low. When we were shopping around and looking to lock, the best we could find was 3.625% for 30 year fixed.

Our lender (BoA) is floating our rate, and said that if we see a lower rate somewhere else, if we show them the Loan Estimate, they can match it or do better. At this point, we'd like to get a lower rate if we can.

We have had about 7 inquiries over the past 3 years; 5 of them being from lenders in past 4 months, and more recently 4 of them in the past month since we made the offer.

With our scores being high, is there any reservation about doing one more credit check to potentially get a lower rate before we close?

What would we need our credit for, in the near term, after we buy our house? We aren't expecting to open any other lines of credit. We don't have any debt (except a credit card we pay off monthly) and our soon to be mortgage.

So in my mind, even if our scores drop to 770, it will be worth it for the lower interest rate and our score will probably bounce back within the next few months.

Thoughts?

submitted by /u/sskohsskoh102
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/fs7pld/us_california_is_it_worth_getting_another_hard/
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