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Mortgage Rate update.
Posted on 4/1/20 at 2:08 pm
Posted on 4/1/20 at 2:08 pm
Guys if you can wait on a refinance the rates will get better. There is a daily move on interest rates up or down. The rates are still high due to the volume of last month. The 15yr rate has been higher than the 30yr rate with my investors all this week. Once this country goes back to work the investors will quit being scared that you will loose your job. The mortgage investors are super scared right now. Also the IRS has stopped processing 4506T request from all lenders. This is a huge deal on all jumbo loans as most investors require 4506T forms completed on all jumbo loans. if your locked in get it closed. If your not wait 30-60 days and the rate will be better. Also when this refinance boom is over i am taking a really long vacation my mind is fried at this point.
11
Posted on 4/1/20 at 2:16 pm to hawkeye007
Does any of that effect commercial loans?
Posted on 4/1/20 at 2:17 pm to hawkeye007
Thanks for the advice. I got an offer for 3.25% on a 30. I'm at 3.75% already and I can't stand all the bullshite fees. My breakeven would be 4 years, so I'll wait to see if rates come down to 3% and maybe less fees.
Posted on 4/1/20 at 2:39 pm to hawkeye007
I close friday on a 15 year at 2.65%.
Posted on 4/1/20 at 2:42 pm to hawkeye007
I'm locked in on 2.7% for a 10 year from 3 weeks back, just waiting for my credit union to get caught up. I'll be knocking over 40k off my payoff amount.
Posted on 4/1/20 at 3:26 pm to hawkeye007
Just closed this morning on my 15 year 2.625% with $500 back. Closing was about 4K
Went down from a 4.125% 30 years FHA loan.
Feels good man. Also no mortgage payment until June. Feels good as well during this crazy time.
Went down from a 4.125% 30 years FHA loan.
Feels good man. Also no mortgage payment until June. Feels good as well during this crazy time.
Posted on 4/1/20 at 4:11 pm to hawkeye007
What are they currently?
Posted on 4/1/20 at 6:58 pm to hawkeye007
Just closed on a 30 year VA at 2.875. Was at 3.99
Posted on 4/2/20 at 5:49 am to hawkeye007
Jumbo is still stupid expensive given the market
Posted on 4/2/20 at 6:58 am to hawkeye007
We are trying to buy a house but the wife (couple is divorcing) is refusing to sign the contract because she thinks her real estate attorney is going to screw her out the money. She wants the judge to sign off on the deal but the courts are closed. I even offered to pay for a separate real estate attorney of her choosing to represent her and be the escrow agent. She said no. We can't lock in without the contract.
Posted on 4/3/20 at 5:58 pm to hawkeye007
quote:
Also the IRS has stopped processing 4506T request from all lenders. This is a huge deal on all jumbo loans as most investors require 4506T forms completed on all jumbo loans.
Received a updated disclosure today related to covid 19 that was basically like "we can cancel your loan or delay your closing for covid related reasons". I reached out to my loan officer, and for their company they are waiving the tax transcript requirement, which is lucky for me.
Posted on 4/5/20 at 4:36 am to hawkeye007
Appraiser is coming out tomorrow (4-6). Locked in at 2.5% on a 15 year 
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