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Posted on 2/2/18 at 2:31 pm to hawkeye007
quote:
also if we do get a correction from wall street expect to rates to tumble towards 4% very quickly.
Thanks for your input. That's what I figured, but the Dow is down 600 this week but the rates keep marching higher.
Would you advise locking in a rate at this time, if closing at the end of the month?
Posted on 2/2/18 at 2:48 pm to Brageous
quote:
Side question: What are mortgage rates going around right now for those buying rentals? Are they around 5%?
Yup, had and investment today for 5% on the nose.
Posted on 2/2/18 at 4:25 pm to HYDRebs
I have a question for yall. I'm closing on a house on Feb 14th. I currently own my house. My plan is to start renting my current house when I move into the new one. Is my initial mortgage company going to try and change my rates or anything cause it's not primary residence or am I in the clear because it was my primary residence for 5 years?
Posted on 2/2/18 at 5:03 pm to Brageous
quote:
Side question: What are mortgage rates going around right now for those buying rentals? Are they around 5%?
I locked in a rental at 4.5% for a 15 year conventional last week with .250 points. Would have been 4.95% for a 30.
Posted on 2/2/18 at 5:06 pm to SouthOfSouth
quote:
Is my initial mortgage company going to try and change my rates or anything cause it's not primary residence or am I in the clear because it was my primary residence for 5 years?
There should be no change to your 1st mortgage. In my experience, subsequent mortgages have a higher rate to account for multiple mortgages. The lending risk should already be built into the one you close on in two weeks.
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