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Should I try to lock my rate now at 3.25%?

With rates going up, I'm getting pretty nervous. We're getting a new build but our house won't be ready until Aug/Sep. Our Loan Officer told us this:

So yes, rates have gone up a bit. However, the expert predictions are saying that rates will stay a little higher for the next 3-5 weeks. And then once we hit Q2, we should see rates come back down. Maybe not to all time lows, but potentially high 2s low 3s again.

So today the rate for your loan at par, meaning no cost to you, is 3.25% which on an extended lock would cost around $3,500 plus the .5% deposit.

If youd like to look into this I am happy to. But there is a lot of confidence that rates should come back down.

​

Do you think this information is accurate?

submitted by /u/rollergirl321
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source https://www.reddit.com/r/RealEstate/comments/ltdsyd/should_i_try_to_lock_my_rate_now_at_325/
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