What is the current COSI rate + my margin is 2.857

kmwilson · Joined: 18 Oct 2008 Posts: 1 1.31 Dollars($)

My current Mortgage is COSI plus 2.857 %, what should my interest rate be? I can lock at 6.75% which would be lower?
Thanks,
Kirk

jameshogg · Posted: Sun Oct 19, 2008 11:38 pm Post subject:

Hi kmwilson!

You can ask the mortgage lender about the current COSI Rate. Then your can add the current COSI rate and 2.857% to know your total interest rate. Once you come to know about the interest rate, you can compare the two and know which one is lower. Then accordingly you can lock the one you feel affordable.

Thanks.

brian1 · Posted: Mon Oct 20, 2008 12:34 pm Post subject:

COSI is hovering in the high 4's low 5's these days that new rate will be better.

Good Luck
Brian

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.11 Dollars($)

6.75 fixed would be better than the adjustable rate. You might want to just double check with a couple other brokers/lenders since that seems a bit high. With decent credit, a fixed rate is in the low 6's.

Guest

Thank you all for answering my question.

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