Be ready to lock in 2012

As mortgage rates hover near all-time lows many folks are curious if it makes sense to wait and see if rates will go even lower.  If history is any indication it probably makes sense to lock in once we ring in the new year.  From 2006-2010 mortgage rates were higher in June than they were the previous December in ever year except 2010 when the European Debt Crisis flared up again.

The European Debt Crisis does not seem to be going away any time soon and its existence has been the primary factor for rates achieving all-time lows so this year may be an anomaly but I still think a locking bias is a prudent approach as we enter the new year.   Have a great holiday!