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Started By
Message
re: mortgage interest rates
Posted on 3/10/20 at 9:52 am to ellesssuuu
Posted on 3/10/20 at 9:52 am to ellesssuuu
ellesssuuu, I currently have a fixed home equity loan and don't have a current mortgage. The equity loan is at 4.54% and only have about $7,000 left to pay. We are wanting to get another fixed equity loan for around $75,000 to 100,000. Would we be better off getting a home mortgage loan for below 3% or try and fine a 4% fixed equity loan?
1
Posted on 3/10/20 at 10:03 am to Coon
I might take off work today to work on this shite 
Posted on 3/10/20 at 10:32 am to DownshiftAndFloorIt
I consolidated most of my rental and home loans into 1 and am only paying $45 more.
It’s crazy.
It’s crazy.
Posted on 3/10/20 at 10:59 am to eng08
Im ignorant on this subject so I am asking, how long do yall think these type rates will hold?
I have my house under contract and plan to build in probably 6-8 months, so it will be a while before I make a move.
ETA: Will be moving into an apartment in the meantime until I find a lot that I want.
I have my house under contract and plan to build in probably 6-8 months, so it will be a while before I make a move.
ETA: Will be moving into an apartment in the meantime until I find a lot that I want.
This post was edited on 3/10/20 at 11:08 am
Posted on 3/10/20 at 11:11 am to Polar Pop
quote:
Im ignorant on this subject so I am asking, how long do yall think these type rates will hold?
I'd look for someone willing to sell you a reasonably priced long term rate lock (90-120 days or more), which will allow you to close the gap a bit.
Posted on 3/10/20 at 11:28 am to ellesssuuu
Is anyone else seeking out quotes for small multifamily? I have a double in Uptown Nola, primary residence, looking for 15 and 20 year fixed quotes. LTV is around 60%, very strong credit
Posted on 3/10/20 at 12:15 pm to gorillaballin
On a duplex primary residence. I was getting 3.25% on a 20 and a 3.125% on a 15 at par. That's around what you should be seeing.
Posted on 3/10/20 at 12:20 pm to Jwodie
Not right now. 3.125. Market is up
Posted on 3/10/20 at 12:30 pm to ellesssuuu
Bingo sharp bounce back from pricing this morning. We've momentarily suspended rates ellesssuuu I don't know about you.
Posted on 3/10/20 at 12:53 pm to HYDRebs
quote:
Bingo sharp bounce back from pricing this morning. We've momentarily suspended rates ellesssuuu I don't know about you.
Can confirm - my lender said rates went up .50% today...
Posted on 3/10/20 at 1:13 pm to Jwodie
Lender here too. We just suspended and repriced with a increase.
Posted on 3/10/20 at 1:21 pm to HowboutthemTigers
Guess I’ll hold what I’ve got in the pipeline then!
Posted on 3/10/20 at 2:03 pm to HowboutthemTigers
Rates quoted yesterday 2.875-3.0. Rate quoted today 3.375. Every bank just put the stop on 3% loans. Loan officer just informed me they suspended and system is down.
How is this not price fixing? Every bank at once reprices loans by .3-.5%
How is this not price fixing? Every bank at once reprices loans by .3-.5%
Posted on 3/10/20 at 2:08 pm to HowboutthemTigers
So do we wait and see what happens next week?
Posted on 3/10/20 at 2:09 pm to B4YOU
quote:
Every bank just put the stop on 3% loans
So glad I slid in
Posted on 3/10/20 at 2:11 pm to B4YOU
quote:
Loan officer just informed me they suspended and system is down.
You had one in the pipe? I hit my lender up just to bs about this wild ride and he didn't say anything like that; only that "they're (banks) losing their arse with everyone refinancing".
quote:
So glad I slid in
Same here! Bout time I time something right.
This post was edited on 3/10/20 at 2:12 pm
Posted on 3/10/20 at 2:20 pm to TigeRoots
Same...finally timed something right! In at 2.99!!
ETA: Hopefully this post ages well.
ETA: Hopefully this post ages well.
This post was edited on 3/10/20 at 2:27 pm
Posted on 3/10/20 at 2:39 pm to OT_Marvel
In at 2.875% today! Got 3.175 and bought points to get it to 2.875.
ETA: originally 4.445 on my loan
ETA: originally 4.445 on my loan
This post was edited on 3/10/20 at 2:41 pm
Posted on 3/10/20 at 3:39 pm to B4YOU
quote:
Rates quoted yesterday 2.875-3.0. Rate quoted today 3.375. Every bank just put the stop on 3% loans. Loan officer just informed me they suspended and system is down.
How is this not price fixing? Every bank at once reprices loans by .3-.5%
From what I am hearing, demand is so high that they don't have to lower rates below 3% anymore. It is a market. They don't have to follow the Fed.
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