Win Mortgage Strategy Choose Rate Lock or Float Now

Advantages of Floating Your Rate

Floating your rate can be advantageous if you believe that interest rates will decline. This strategy requires a keen understanding of market trends and economic indicators. For instance, if rates drop by even a small margin, you could secure a lower rate before closing, potentially saving thousands over the mortgage term². However, it's crucial to be aware of the risks, as rates could also increase, impacting your affordability.