Mortgage Rates...... | TigerDroppings.com

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TJG210
LSU Fan
New Orleans
Member since Aug 2006
21844 posts

Mortgage Rates......


Where are they at now? I took too long a few weeks ago locking in and missed some good rates, but now I'm hearing they've come back down? Also, is a broker more expensive to go through than a bank?






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Mortgage Rates......


At my FIL's fairly large regional bank, 4.25%. Still dirt cheap compared to rates in the past, just up from my 3.25% 30 yr in March.





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TJG210
LSU Fan
New Orleans
Member since Aug 2006
21844 posts

re: Mortgage Rates......


I'm sitting at 5.25 and looking to go down, but just want to make sure it's worth my whole before doing anything.





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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Mortgage Rates......


Others here have said if you can lower by a point, do it. I don't know the numbers with that though, maybe others can give more detailed input.





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hawkeye007
LSU Fan
greenwell springs
Member since Feb 2010
1924 posts

re: Mortgage Rates......


your not going to go down from 5.25% i work for a bank and our rates are 5% on a 30yr right now..you missed the boat sorry





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iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
4560 posts

re: Mortgage Rates......


5% is still cheap $. Obviously not savings for the OP, but I at folks who are angry at that rate.





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Oenophile Brah
LSU Fan
The Edge of Sanity
Member since Jan 2013
4872 posts

re: Mortgage Rates......


quote:

At my FIL's fairly large regional bank, 4.25%.

Really?

I'm under contract now and am shopping rates. I would love to lock that in.

Do multi families incur a risk adjustment?






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dat yat
LSU Fan
Chef Pass
Member since Jun 2011
1381 posts

re: Mortgage Rates......


quote:

Do multi families incur a risk adjustment?


Unless you live in one unit, the rate will be higher.






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Oenophile Brah
LSU Fan
The Edge of Sanity
Member since Jan 2013
4872 posts

re: Mortgage Rates......


quote:

Unless you live in one unit, the rate will be higher.

I will be, owner occupied.

Does 4.25 sound right? I've been hearing closer to 4.5.






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dat yat
LSU Fan
Chef Pass
Member since Jun 2011
1381 posts

re: Mortgage Rates......


Rates have been fluctuating since the Fed's potential "tapering" was announced. Shop around and lock in the best one.
If you get 4.5% or less, your rental income will probably cover your whole note, or at least the P&I. Mine did when I had a double.

Buying a double to live in is a good move.






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geauxnc0308
LSU Fan
pineywoods of ET
Member since May 2008
185 posts

re: Mortgage Rates......


I locked in 30 yr 3.875% last week via my credit union. My buddy is a mortgage broker and he couldn't touch it, 4.1% was the best he could get me





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bbvdd
Alabama Fan
Memphis, TN
Member since Jun 2009
8587 posts

re: Mortgage Rates......


FNMA commitment rate is a 4.068% right now. Add ~50bps of servicing and fees and you are looking around 4.625-4.75%

Should be a reasonable starting point.






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: Mortgage Rates......


Fwiw, that 4.25% was two weeks ago.





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Hu_Flung_Pu
USA Fan
In the handicap stall
Member since Jan 2013
4715 posts

re: Mortgage Rates......


Thank god I got my 3.8% I think I was the last day before the 4's


This post was edited on 7/10 at 3:37 pm


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iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
4560 posts

re: Mortgage Rates......


3.375 30yr in April.





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jimbeam
USA Fan
University of LSU
Member since Oct 2011
30361 posts

re: Mortgage Rates......


what is the future outlook on rates? I have a year left of college and would like to know what to look forward to.





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Paul Allen
USA Fan
Baton Rouge, LA
Member since Nov 2007
28950 posts

re: Mortgage Rates......


quote:

3.375 30yr in April.


I doubt we'll see below 3.5 anytime soon.






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iknowmorethanyou
LSU Fan
Paydirt
Member since Jul 2007
4560 posts

re: Mortgage Rates......


Definitely. I'm glad I pulled the trigger.





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TejasHorn
Texas Fan
High Plains Driftin'
Member since Mar 2007
3425 posts

re: Mortgage Rates......


quote:

what is the future outlook on rates? I have a year left of college and would like to know what to look forward to.


Probably approaching 5.5% to 6% this time next year for 30 yr. JMO. Which is still a good rate but it means a lot more house payment!

What's remarkable is how much they cratered the last couple of years. Rates were north of 20% at one point in the early 80's.






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TEAUXLER
LSU Fan
League City, TX
Member since Jan 2010
999 posts

re: Mortgage Rates......


Got in at 2.8% on a 15 !!





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