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Started By
Message
re: mortgage interest rates
Posted on 3/4/20 at 8:04 pm to boosiebadazz
Posted on 3/4/20 at 8:04 pm to boosiebadazz
quote:
Am I beating 3.375 with really good credit (794)?
I mentioned it yesterday, but I officially locked today at 2.875% - 30 yr, no points (jumbo). It may tick up some but should be able to get in around 3% if you're really Money Talk material.
0
Posted on 3/4/20 at 9:12 pm to hawkeye007
quote:
is that total fees or just origination.
Everything but the appraisal.
Can I do better?
Posted on 3/4/20 at 9:19 pm to BigOrangeBri
Locked all day today 10/1 arms at 2.375-2.5. Strongly consider looking at that particularly if you think there’s a good chance you move within 10 years. Most places should have slightly worse pricing tomorrow than they had this morning, but still incredibly low
Posted on 3/4/20 at 9:37 pm to hawkeye007
Can someone help me understand how I was able to get a 2.625 on a fixed conventional 15 year refi with a middle score in the middle 600s? I’ve see lots of people that crush me credit wise, and probably in every other way financially with higher rates from today and yesterday.
My spouse had a middle score of 733, but I thought the rate was based on the lower score of the applicants. Is it our six figure income and only refinancing 154k? Is it that we have 20% equity? Or a combination of all?
I had earlier posted my closing cost were $1400 which was wrong. They’re actually $3200 rolled into the loan. But still, I’m freaking shook with excitement. I’m going from a 30 year FHA at 4.125 from 2016 to a 2.625 15 year and my payment is only goin up $148 bucks.
Did I get lucky or is my broker awesome?
My spouse had a middle score of 733, but I thought the rate was based on the lower score of the applicants. Is it our six figure income and only refinancing 154k? Is it that we have 20% equity? Or a combination of all?
I had earlier posted my closing cost were $1400 which was wrong. They’re actually $3200 rolled into the loan. But still, I’m freaking shook with excitement. I’m going from a 30 year FHA at 4.125 from 2016 to a 2.625 15 year and my payment is only goin up $148 bucks.
Did I get lucky or is my broker awesome?
This post was edited on 3/5/20 at 6:37 am
Posted on 3/4/20 at 10:12 pm to hawkeye007
$$$$$$$
Posted on 3/4/20 at 10:42 pm to HYDRebs
quote:
Locked all day today 10/1 arms at 2.375-2.5. Strongly consider looking at that particularly if you think there’s a good chance you move within 10 years. Most places should have slightly worse pricing tomorrow than they had this morning, but still incredibly low
Any caps? I locked in at 2.875% on a 7-1 ARM 9 years ago. There was a 2% cap on adjustment in year 8, so I let it ride until we added on. Then we took a HELOC that ran around 4.5%- same as my ARM adjustment, so we rolled it all into a 30yr at 3.375% last month. If I had seen that option, we would have done another ARM, even though our 10 year plan is to stay for the long term.
Posted on 3/4/20 at 10:57 pm to LSUGUMBO
2% annual cap 5% total up or down
Posted on 3/4/20 at 10:58 pm to LSUGUMBO
I was 1.5 years into a %5 30 year loan. Today locked in 20 years @3.5%. So taking off 8.5 year and not only up $80 a month. My rate is a little higher than it could be because I put alot down on house when we built and only owe 95k. Everyone said higher loans would have lower rate.
Posted on 3/5/20 at 12:15 am to DownSouthTiger
quote:
was 1.5 years into a %5 30 year loan. Today locked in 20 years @3.5%. So taking off 8.5 year and not only up $80 a month. My rate is a little higher than it could be because I put alot down on house when we built and only owe 95k. Everyone said higher loans would have lower rate.
So, the reason I can only get 2.875% is because I'm only asking for a $154k loan?
Interesting, I never knew that.
Posted on 3/5/20 at 6:36 am to BigOrangeBri
Any of those in the business lend in Miss?
Posted on 3/5/20 at 7:12 am to LSURep864
Because Fannie and Freddie have increase on 20 and 30 year based on credit scores but not 15 year loans.
Posted on 3/5/20 at 7:46 am to ellesssuuu
Locked yesterday, 2.75% , no points on a 15 year. $2200 closing cost.
I think the 2s are about the be gone, if they aren’t already. Fed lowering rates should stabilize the market.
I think the 2s are about the be gone, if they aren’t already. Fed lowering rates should stabilize the market.
Posted on 3/5/20 at 7:53 am to ellesssuuu
quote:
Because Fannie and Freddie have increase on 20 and 30 year based on credit scores but not 15 year loans.
Good to know. Thanks for the info.
Regardless of how, I'm freaking ecstatic. For $148 more per month, my monthly amount going to principal is going to be about $600 more per month.
Posted on 3/5/20 at 8:30 am to Toula
Don’t know about that, 10 yr. treasury back below 1% and even creeping to .9 this morning. We still may see even lower. Again though if you can lock in bettering your financial position right now why risk it.
Posted on 3/5/20 at 9:42 am to hawkeye007
6 yrs in on my 30yr @ 4.2%.
Will be looking to refi in a 15 yr ASAP
Saw 30yr @ 3.25% and 15yr @ 2.75%
Will be looking to refi in a 15 yr ASAP
Saw 30yr @ 3.25% and 15yr @ 2.75%
Posted on 3/5/20 at 10:06 am to bstew3006
I hope these rates stay in the mid 2's for another 4-5 months when I'm ready for my house to be finished.
Posted on 3/5/20 at 11:28 am to kywildcatfanone
quote:
I hope these rates stay in the mid 2's for another 4-5 months when I'm ready for my house to be finished.
im with ya. my house should be finished in July
Posted on 3/5/20 at 12:27 pm to bnb9433
Just locked in 3% rate with playing 0.75pts for 30 yr refinance. $3000 closing costs. No point rate was 3.25% / 30 yr.
EDIT - $3000 closing cost... I missed a 500$ lender credit!
EDIT - $3000 closing cost... I missed a 500$ lender credit!
This post was edited on 3/5/20 at 12:53 pm
Posted on 3/5/20 at 12:35 pm to KingofZydeco
Has anyone checked Triumph mortgage? I have used them twice and they were always lowest. Did a re-fi in December at 3.375 w/0 pts and wonder where they are now. Think they are based in Tennessee.
Posted on 3/5/20 at 12:38 pm to KingofZydeco
Who with...?
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