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With Tariffs and bad auctions should I lock in my interest rate?
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Locking in your interest rate can be a smart move under the right circumstances—especially when there's economic uncertainty, like tariffs, geopolitical tension, or volatile inflation.
Here are a few key considerations to help you decide:
✅ Reasons to Lock in Now:
Rising Rate Environment: If inflation is persistent and the Fed continues to signal rate hikes (or holding rates higher for longer), mortgage and loan rates might increase.
Market Volatility: Tariffs and global economic uncertainty can lead to unpredictable swings in rates. Locking in now protects you from upward movement.
You’re Close to Closing: If you're within 30-60 days of needing the loan (e.g., buying a house), rate locks are usually worth it.
Peace of Mind: Locking gives you certainty in an uncertain time, helping you budget better and avoid surprises.
❌ Reasons to Hold Off:
You Expect Rates to Drop: If there's strong indication that rates will fall due to recession fears or easing inflation, waiting could save money.
You're Not Ready to Act: If your closing is still months away or you're just shopping around, locking too early may be premature (and rate locks often have time limits and fees)
tune in and learn more at https://www.ddamortgage.com/blog
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