Borrowers eager to lock in a very low-rate mortgage should apply in the next day or two, says Bankrate.com mortgage analyst Holden Lewis.
Rates havenâ€™t been this low since the 1950s, he says, adding that rates are unlikely to fall further.
â€œYou can float, but that’s not a smart strategy. It’s like asking for another card when you have 19 in blackjack. Stand and take your chances,â€ he advises.
Source: Bankrate.com (5/26/10)