Refinanced yesterday at 5.25%

[sawastea]

My first mtge was 6.5% back in August. Nothing like saving $400 a month with a new rate. Mtge businesses are so fickle right now.

I'm happy I pulled the trigger on that.

 

[nascarphenom]

My first mtge was 6.5% back in August. Nothing like saving $400 a month with a new rate. Mtge businesses are so fickle right now.

I'm happy I pulled the trigger on that.

yeah, i was looking to buy my first home sometime around April, but I am bumping up my time frame a lot sooner becuase I can get that sub 6% rate. when do you tihnk the rate is going to go back up?

 

[desrat]

yeah, i was looking to buy my first home sometime around April, but I am bumping up my time frame a lot sooner becuase I can get that sub 6% rate. when do you tihnk the rate is going to go back up?

2011 or later

 

[joelatti]

Wait about 2 weeks and rates are going to drop another .50 bp

 

[sawastea]

Wait about 2 weeks and rates are going to drop another .50 bp

Mortgage rates aren't directly tied in with the FED rates. FED rates affect the HELOC as 'prime' in involved.

 

[TheKinz]

Wait about 2 weeks and rates are going to drop another .50 bp

you are on the right track..It will go below the lowest point in 2001 for sure..Nice rate though.

 

[D2bets]

you are on the right track..It will go below the lowest point in 2001 for sure..Nice rate though.

I think the lowest point was actually in 2003, not 2001. Quite a bit lower actually.

 

[DeathEatsaCracker]

Wait about 2 weeks and rates are going to drop another .50 bp

That's what we're waiting for. Financed for 6.25% for 15 years last July. Mortgage broker emailed me Wednesday saying rate was down to 4.8%. When the Fed cuts again on the 30th, we're going to re-fi and continue to make the same payment with the intention of having our house paid off in under 12 years.

 

[djmatt]

Does anyone think it would be a good time to re-finance a townhome if it is already paid off?

 

[sawastea]

Like get a HELOC and buy something else? Are there any renovations you're trying to do? What do you need the money for? Ideally, you don't want to get a HELOC to pay off debt, but with CC interest rates around 20%, it's an option.

 

[3peet]

Just priced some of my customers @ 4.99% today on the 30yr fix. I couldn't believe it myself. But when I got the lock confirm for 30days i knew it wasn't a blip. Been able to do that since last Thrusday. Last rate drop lasted about 2 weeks before the 30's started heading up to the 6's again.

 

[WVU]

3peet can you lock me in for under 5%? If so email me at my hotmail email addy in my profile

 

[souzathelooza]

Just priced some of my customers @ 4.99% today on the 30yr fix. I couldn't believe it myself. But when I got the lock confirm for 30days i knew it wasn't a blip. Been able to do that since last Thrusday. Last rate drop lasted about 2 weeks before the 30's started heading up to the 6's again.

I would also love a piece of that sub 5%.

 

[WharfRat+]

I would also love a piece of that sub 5%.

So would I. Looking to buy my 1st house very soon. 765 credit score. $ for a 10%-20% downpayment.

 

[teamogf]

I work in the mortgage business..no way you can get 5% on on 30yr right now..unless you are buying points out the ass!

The lowest it got to was 5.1% 2 weeks ago. Rates shot up today because the bond market tanked which is what controls the mortgage rates. Heloc and home equity loans are tied to prime which has been falling and may continue to.

 

[Anonymous1]

Just priced some of my customers @ 4.99% today on the 30yr fix. I couldn't believe it myself. But when I got the lock confirm for 30days i knew it wasn't a blip. Been able to do that since last Thrusday. Last rate drop lasted about 2 weeks before the 30's started heading up to the 6's again.

Can we hear the rest of the story, including costs, points and all else. Then, maybe we can make an educated decision on the sub 5% you are stating.

 

[Drunkn247]

Also in the mortgage business and would love to know where your getting rates under 5% I'll go work there

 

[TKE683]

Let me know how to get in touch with you, i can't find anything under 5.75 right now.

Just priced some of my customers @ 4.99% today on the 30yr fix. I couldn't believe it myself. But when I got the lock confirm for 30days i knew it wasn't a blip. Been able to do that since last Thrusday. Last rate drop lasted about 2 weeks before the 30's started heading up to the 6's again.

 

[sawastea]

It's great to see all these sub 5% rates, but the question is, will these rates be valid in states like NY and CT? I signed the final paperwork on Friday for the 30yr 5.25%. Thank God it's over.

 

[MIKEY.1TIME]

It's great to see all these sub 5% rates, but the question is, will these rates be valid in states like NY and CT? I signed the final paperwork on Friday for the 30yr 5.25%. Thank God it's over.

was that a no point fixed? if so, where, if you dont mind