Smart strategy saves thousands mortgage rate lock vs float

Strategies to Decide

Deciding whether to lock or float involves evaluating your risk tolerance and understanding market conditions. Consulting with a financial advisor or mortgage broker can provide personalized insights based on your specific situation. Additionally, many lenders offer a "float-down" option, allowing you to lock in a lower rate if rates drop after you've locked, typically for a fee. This can be a valuable middle-ground strategy for those hesitant to commit to a full lock or float decision.