8 out of 10 buyers are waiting for rates to fall, but the real money move is adding one line to your loan: the float down clause.
What it does
• Locks today’s rate so future spikes cannot surprise your budget
• Gives you one shot to claim a lower rate if the market slips before closing, usually for about 0.25 point in upfront cost
Real math
Lock at 6.75% on a $400,000, 30-year loan. If the market dips to 6.50% before you sign, your payment drops about $64 a month and you avoid roughly $23,000 in lifetime interest.
Fine print
Not every lender offers float downs and many insist on at least a 0.25% drop. Ask before you apply and note the timing window.
Prices are climbing while most buyers wait. DM for a short list of lenders that include float-down protection.
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