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Message
re: mortgage interest rates
Posted on 3/15/20 at 4:34 pm to Jason9782003
Posted on 3/15/20 at 4:34 pm to Jason9782003
Don't complain...I remember the Carter years of well over 10%..be happy.
1
Posted on 3/15/20 at 4:50 pm to Dayman
Mortgage rates will remain higher until banks and mtg companies are able to catch up with their massive influx of refi's
Posted on 3/15/20 at 6:15 pm to bbvdd
quote:
Mortgage rates will remain higher until banks and mtg companies are able to catch up with their massive influx of refi's
I heard some lenders are so swamped they are turning people down because they can’t handle all of it. I’ve got a 20yr 3.25% in the works and might just go with it. Beats the hell out of my 4.75%
Posted on 3/15/20 at 10:42 pm to 632627
Depends if investors feel they are caught up. Another factor that everyone needs to consider is staff to work these deals. Lenders, title companies, appraisers all are maxed out and now kids are home from schools and they are asked to work from home.
Posted on 3/15/20 at 11:07 pm to SalE
It’s all relative. When interest rates are higher, the average price of a home is lower. I’m waiting to refi to a 15 year. I’ve got 20 left and 3.6 and need the rates to drop lower. Need the ten year to drop the next couple days.
Posted on 3/15/20 at 11:32 pm to NOLAGT
Im with standard mortgage and I have a 4% rate. I can swing the 15 year. What is the going rate?
Posted on 3/16/20 at 8:53 am to Mud_Till_May
Federal interest rates were cut to 0 yesterday. How is this effecting the mortgage interest rates? I have a 30yr at 3.625%, was going to wait until below 3 to start thinking about a refi.
Posted on 3/19/20 at 10:45 am to DemTigers7
What are the current 20 year rates?
Posted on 3/19/20 at 10:49 am to Paul Allen
My local credit union has it at 3.375.
They recently have went up though from a week or so ago.
Probably due to high demand.
I got a 15 year for 2.5, it's now at 2.875.
They recently have went up though from a week or so ago.
Probably due to high demand.
I got a 15 year for 2.5, it's now at 2.875.
Posted on 3/19/20 at 11:17 am to DemTigers7
quote:
Federal interest rates were cut to 0 yesterday. How is this effecting the mortgage interest rates? I have a 30yr at 3.625%, was going to wait until below 3 to start thinking about a refi.
A 4% cost my client 2pts yesterday
Just wait till this blows over
So classic how everyone will jump to refi just to lower .5%
Posted on 3/19/20 at 12:28 pm to Azazello
USAA VA 30 year is at 4.6 now wtf
My lender said they would beat USAA 3.25% on Saturday when I got the pre approval before the feds cut rates.
I’m stressing I don’t get fricked over buying my first home
My lender said they would beat USAA 3.25% on Saturday when I got the pre approval before the feds cut rates.
I’m stressing I don’t get fricked over buying my first home
This post was edited on 3/19/20 at 1:08 pm
Posted on 3/19/20 at 3:30 pm to StraightCashHomey21
Just got off the phone with USAA and it’s at the upper 4’s
Posted on 3/19/20 at 4:22 pm to StraightCashHomey21
quote:
USAA VA 30 year is at 4.6 now wtf
You should wait
The Banks do not want any loans since they forsee defaults that's why they are raising
If you can wait I would
Posted on 3/19/20 at 8:25 pm to SDVTiger
We don’t close on the house until July when we move
So thankfully we have time
USAA has dropped to 4.25
Pentagon Federal is a 5.3 dear god
Navy Fed is at 3.65
So thankfully we have time
USAA has dropped to 4.25
Pentagon Federal is a 5.3 dear god
Navy Fed is at 3.65
This post was edited on 3/19/20 at 8:51 pm
Posted on 3/20/20 at 7:48 am to SDVTiger
quote:
You should wait The Banks do not want any loans since they forsee defaults that's why they are raising If you can wait I would
Until when? Any ideas when rates drop again?
Posted on 3/20/20 at 11:17 am to StraightCashHomey21
These mortgage rates are complete bullshite right now.
Hopefully the fed buying MBS will drop them like it is supposed to.
Hopefully the fed buying MBS will drop them like it is supposed to.
Posted on 3/20/20 at 2:35 pm to TigerDeBaiter
I missed out on a 2.5% 15 year refi earlier this week. I'm really freaking aggravated about it.
I emailed the loan officer that I've used on my past two mortgages in the morning. He responded that afternoon with an excel spreadsheet giving me different options. I responded the next morning asking him what I needed to do to lock in at the 2.5% rate. He responded back a few hours later that the 15 year rate has gone up to 2.75%.
I'm aggravated by all of this and don't want to miss this opportunity to refi at these low rates.
I guess that's partly my fault by not letting him know that I wasn't just kicking tires as I'm sure he's inundated with phone calls, emails, etc.
I emailed the loan officer that I've used on my past two mortgages in the morning. He responded that afternoon with an excel spreadsheet giving me different options. I responded the next morning asking him what I needed to do to lock in at the 2.5% rate. He responded back a few hours later that the 15 year rate has gone up to 2.75%.
I'm aggravated by all of this and don't want to miss this opportunity to refi at these low rates.
I guess that's partly my fault by not letting him know that I wasn't just kicking tires as I'm sure he's inundated with phone calls, emails, etc.
This post was edited on 3/20/20 at 2:36 pm
Posted on 3/20/20 at 4:49 pm to SDVTiger
quote:
The Banks do not want any loans since they forsee defaults that's why they are raising
That is not why mortgage rates are up. There is no bid for MBS and the prepay risk is unpallatable to any potential investor so rates are going up. The plan is for the fed to stabilize rates but they need to buy more than they started with.
Posted on 3/20/20 at 4:57 pm to wutangfinancial
We just dropped 1% in rate on the 30 from where we were pricing yesterday. Those that were shopping may want to call back their broker/ bank if they can get ahold of them late this afternoon.
Major concern starting to pop up though. Even if you are locked in can you close? Operations in CA and PA have shutdown due to title companies not being able to close due to citizen restrictions and appraisers can't go out to the properties.
Major concern starting to pop up though. Even if you are locked in can you close? Operations in CA and PA have shutdown due to title companies not being able to close due to citizen restrictions and appraisers can't go out to the properties.
Posted on 3/20/20 at 5:13 pm to HYDRebs
quote:
Major concern starting to pop up though. Even if you are locked in can you close? Operations in CA and PA have shutdown due to title companies not being able to close due to citizen restrictions and appraisers can't go out to the properties.
Just FYI, the Fed wasn't buying enough BEFORE the pull-through from the past three weeks. Servicers and Ops will be over capacity for a while which mean I don't know how soon rates will drop. We are seeing full capitulation across all assets globally. No telling when rates settle down for more than a day.
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