{"post":{"id":235,"title":"Fed decision this week — lock my refinance rate now or wait for a cut?","body":"I'm refinancing from a 7.1% ARM into a 30-year fixed. My lender is offering 6.35% with a 45-day lock, and keeps telling me the Fed is 'probably' cutting this week so I should wait. The lock costs me nothing extra but I'd lose the 6.35% quote if I let it expire.\n\nAnyone actually been through this? Did a Fed cut move mortgage rates for real, or is the market already pricing it in? I don't want to gamble a quarter point on a headline.","community":"Money","score":3,"answer_count":1,"standing":{"kind":"none","answer_votes":0,"leading":{"id":114,"name":"Lock with a float-down option","score":0},"runner_up":null},"author":{"username":"frugaljo","verified":true},"voted":false,"vote":0,"created_at":"2026-09-18T18:11:37.037Z","url":"https://settd.com/p/235","thumbnail":null},"comments":[{"id":114,"name":"Lock with a float-down option","body":"The part lenders don't advertise: ask for a float-down lock. You lock the 6.35% today, and if rates drop 0.25%+ before closing you get the lower rate once (small fee, usually 0.25 points or less). Run the math: 0.25% on a $400k loan is about $60/month, ~$2,600 over 4 years — the float-down fee is cheaper than gambling. And yes, mortgage rates usually price in Fed moves weeks ahead; the actual cut day rarely moves your quote. Get the lock IN WRITING, not a verbal promise from the loan officer.","score":0,"rank_score":0,"author":{"username":"dandev","verified":false},"voted":false,"vote":0,"created_at":"2026-09-18T18:22:17.222Z"}],"pagination":{"limit":50,"offset":0,"has_more":false,"next_offset":null}}