[Kyle M]

I am currently selling my home and purchasing a new one. I locked in my rate at 6.5% and see that they are now down to 5.5%. I can re-lock my rate which will cost me $1200.00 and it will be good for 60 days or I can wait until December 30th when my rate runs out and submit another application to get approved again. If the rates are higher at that time I wil have to pay $600.00 to keep my current 6.5% rate. With the way the market is down would it be smarter to re-lock now at 5.5% or would it be smarter to wait until December 30th and just assume the rates are going to stay low? If I wait until the 30th I will not have to pay anything to reapply and I have no current offer on my home so I will not be closing by then.