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Started By
Message
Refinance Home or wait?
Posted on 3/26/20 at 8:31 am
Posted on 3/26/20 at 8:31 am
Hi all, I'm currently getting an attractive rate to refinance. Given the current virus pandemic, should I continue to wait in hopes it'll fall further, or should I lock in the new rate (3.215)?
5
Posted on 3/26/20 at 8:35 am to LSUbase13
What’s your current rate? That is kind of a big deal when “refinancing”
Posted on 3/26/20 at 8:39 am to LSUbase13
Lenders are so full most are moving to where they wont let you lock a rate till you have all your prior to docs conditions in
Do that first then decide when to lock but rates are going to go under 3 imo
Do that first then decide when to lock but rates are going to go under 3 imo
Posted on 3/26/20 at 9:00 am to LSUbase13
What is your current rate?
What is the new rate?
Are you currently paying PMI?
Will you drop PMI with the new loan?
What is the new rate?
Are you currently paying PMI?
Will you drop PMI with the new loan?
Posted on 3/26/20 at 10:02 am to BruslyTiger
quote:
What is your current rate? 3.99
What is the new rate? 3.215
Are you currently paying PMI? No
Will you drop PMI with the new loan? N/A
This post was edited on 3/26/20 at 10:02 am
Posted on 3/26/20 at 11:20 am to LSUbase13
Haave all your paperwork in then be ready to lock in. The rates have been fluctuating wildly throughout the day. Many swings as much as 1.5%
Broker may see something 2.75% 15 year no points then 45 minutes later its at 3.10. Then 6 hours later at 3.25.
Broker may see something 2.75% 15 year no points then 45 minutes later its at 3.10. Then 6 hours later at 3.25.
Posted on 3/26/20 at 11:52 am to LSUbase13
Locked in at 2.50% 15yr fixed. Closing Friday!
Posted on 3/26/20 at 12:14 pm to ShreveLSUport1
Any points on that 2.5?
Posted on 3/26/20 at 12:39 pm to Mudminnow
What's the best way to "shop around" for refinance rates?
This post was edited on 3/26/20 at 1:02 pm
Posted on 3/27/20 at 12:52 pm to LSUbase13
quote:
What is your current rate? 3.99
What is the new rate? 3.215
Are you currently paying PMI? No
That is not much of a drop in rate and there is no PMI. Rule of thumb is usually at least a whole point and/or removing PMI.
Posted on 3/27/20 at 12:59 pm to ShreveLSUport1
quote:
Locked in at 2.50% 15yr fixed. Closing Friday!
Who did you use to get the 2.5? When did you lock that rate in?
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