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Message
re: Mortgage rates sink to lowest level on record
Posted on 8/23/10 at 12:04 pm to TJG210
Posted on 8/23/10 at 12:04 pm to TJG210
quote:
Did you buy any points to get it that low?
No, no points. Going through Whitney, credit score around 760. Chase offered the same rate but with 0.5 pts. A mortgage broker offered 4.25% but had an origination fee of around $4k.
If you have decent credit, definitely call around, you should be able to get sub 4.5% on a refinance if your LTV is less than 80%.
1
Posted on 8/23/10 at 12:30 pm to barry
How much does an appraiser cost? My house was appraised at $200K back in Feb 2006, but my mortgage company said it was overvalued and is worth a lot less now. I call BS. If true, not gonna waste my time refinancing with all of the fees. I owe about $175K on a 30 year that started in 2004.
Posted on 8/23/10 at 3:40 pm to Weaver
I just paid $400 for an appraisal, but that was through the bank that is providing my mortgage, so I would think you could probably get one done for less than that.
Posted on 8/23/10 at 4:40 pm to Tiger JJ
quote:
I just refi'ed 2 auto loans at 2.99%.
Are auto loans supported by the government?
Posted on 8/23/10 at 5:45 pm to barry
you can get 4.375% on a 30 year and 3.875% on a 15 year fixed! And thats with no POINTS!
Posted on 8/23/10 at 9:17 pm to cadn0327
quote:
you can get 4.375% on a 30 year and 3.875% on a 15 year fixed! And thats with no POINTS!
What's your Origination fee on that rate?
Posted on 8/23/10 at 10:51 pm to LSUGUMBO
quote:
This is the only gov'?t help I'll be getting for the foreseeable future, so I'll take what I can get.
Ha. "all" you are getting is a lifetime of ultra-cheap debt that you will let you finance way more house than you otherwise could?
Posted on 8/24/10 at 10:31 am to Tiger JJ
quote:
way more house than you otherwise could
Our house note is less that 25% of what I make, and my wife makes more than I do, so we could afford the house we live in if the rates were 10%. However, while rates are low, I'm going to take the opportunity to refi and consider it a handout from the gov't to save me $120K (difference between 20 yr and 30 yr mortgage).
Posted on 8/24/10 at 8:45 pm to C
quote:
Are auto loans supported by the government?
Anyone?
Posted on 8/24/10 at 8:59 pm to C
"Supported" being what? Guarantees on asset backed paper?
Posted on 8/24/10 at 9:23 pm to kfizzle85
Jersey Tiger, where did you get a car loan under 3%?
I am at 5.9 right now and thought that was good. I looked around just now, and didn't see anything less than 4+ for a 3yr.
I am at 5.9 right now and thought that was good. I looked around just now, and didn't see anything less than 4+ for a 3yr.
Posted on 8/24/10 at 9:57 pm to kfizzle85
quote:
"Supported" being what? Guarantees on asset backed paper?
Well what does the government directly do to keep the auto loans less than the 3% that JT quoted.
Posted on 8/24/10 at 10:14 pm to C
IDK, I thought the myriad Fed ABS programs stopped in late 09 or early 2010.
Posted on 8/24/10 at 10:37 pm to KnoxvilleBerryTiger
quote:
Jersey Tiger, where did you get a car loan under 3%?
PenFed
Posted on 8/24/10 at 11:04 pm to Tiger JJ
Actually rates have dropped significantly since the gov stopped buying mortgage back securities in March. We all expected rates to rise to around mid to high fives by year end and they have dropped. I don't understand near as much stuff about finance as you do but would like your opinion on why this happend. I have no idea but it has benefitted me significantly. To everyone else in thread you should be locking at 4.25% on 30yr and 3.75% on 15yr with good credit going conventional.
Posted on 8/24/10 at 11:07 pm to kaaj24
You shouldn't pay any origination at 4.375% and around .5% at 4.25% on todays rates 30yr fixed. Rates got better today b/c the housing stats came out. There are more indicators getting announced this week that could bring them down more but this market is impossible to predict.
Posted on 8/24/10 at 11:09 pm to LSUKTR
As weird as it sound 80% LTV pricing is worse than 95% pricing unless you are above a 740 score. Anything less gets tagged alot more at 80% than it does at 85% to 95% b/c MI.
Posted on 8/24/10 at 11:28 pm to David Wooderson
quote:
Actually rates have dropped significantly since the gov stopped buying mortgage back securities in March.
The fed stopped buying, but the government is still supporting virtually the entire market via Frannie.
Posted on 8/25/10 at 12:24 am to Tiger JJ
quote:
The fed stopped buying, but the government is still supporting virtually the entire market via Frannie.
Does Fannie buy auto loans?
Posted on 8/25/10 at 7:21 am to C
I don't think so.
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