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Started By
Message
4.07% for 15 year, fixed-rate loans
Posted on 7/8/10 at 1:51 pm
Posted on 7/8/10 at 1:51 pm
Wow!!
Just....WOW!!
Just....WOW!!
8
Posted on 7/8/10 at 1:55 pm to LSURussian
is there a site to get that rate
Posted on 7/8/10 at 1:59 pm to katytigers
I just heard it on CNBC. They took a 30 second break away from discussing LeBron James to put up a chart about mortgage interest rates.
Yahoo Finance page shows 4.14%.
LINK
ETA: Here are some rates from lenders. Many have an APR under 4% for 15 year loans, but with some points.
LINK
Yahoo Finance page shows 4.14%.
LINK
ETA: Here are some rates from lenders. Many have an APR under 4% for 15 year loans, but with some points.
LINK
This post was edited on 7/8/10 at 2:03 pm
Posted on 7/8/10 at 2:11 pm to LSURussian
Pretty remarkable.
Posted on 7/8/10 at 2:12 pm to Doc Fenton
I'm thinking about buying a house just so I can tell people "I borrowed money at 4%." 
Posted on 7/8/10 at 2:25 pm to LSURussian
Maybe you could buy a luxury condo in Vegas on the cheap...
Posted on 7/8/10 at 2:28 pm to LSURussian
I am guessing this is why our company just informed us that they changed the rules on borrowing from our 401-K. We can now borrow up to 80% of our vested amount and they will no longer at the 2% on top of the prime bank rate. As of Monday I could borrow at 5.2%.
I wouldn't ever do it, but it would sure be better to me than being stuck wit 18-22% interest with credit card debt if I was in such a situation.
I wouldn't ever do it, but it would sure be better to me than being stuck wit 18-22% interest with credit card debt if I was in such a situation.
Posted on 7/8/10 at 2:29 pm to Doc Fenton
quote:That would put me in too close proximity with VegasBengal.....
Maybe you could buy a luxury condo in Vegas on the cheap...
Posted on 7/8/10 at 2:32 pm to LSURussian
i understand.
Posted on 7/8/10 at 3:06 pm to LSURussian
I am thinking about buying a house recently. We sold our house a few years ago but for various reasons didn't buy again.
This makes is very compelling.
This makes is very compelling.
Posted on 7/8/10 at 4:21 pm to LSURussian
quote:
They took a 30 second break away from discussing LeBron James to put up a chart about mortgage interest rates.
Isn't it annoying that they would interrupt the important topics?
Posted on 7/8/10 at 4:21 pm to foshizzle
Yes.
Posted on 7/8/10 at 4:35 pm to LSURussian
quote:Conforming Loan rates.
4.07% for 15 year, fixed-rate loans
Jumbo/SuperJumbo are falling in the high4%-low5% range assuming the applicant has good credit scores. Lower scores make it a lot more challenging. Nowadays, Lenders tend to require a left testicle (or the equivalent) as collateral at those levels.
Posted on 7/8/10 at 4:38 pm to NC_Tigah
quote:Well, that leaves 'Rag out.....
Lenders tend to require a left testicle
Posted on 7/8/10 at 4:45 pm to LSURussian
quote:He could try to slip in a neuticle, but I bet they'd be wise to it.
Well, that leaves 'Rag out.....
Posted on 7/8/10 at 4:46 pm to NC_Tigah
Posted on 7/8/10 at 5:33 pm to LSURussian
We refinanced earlier this year from a 30 year fixed at 6.375% to 15 year fixed at 4.25%.
This will not surprise any of this board's regulars, but any casual readers who are in a position to refinance should seriously consider taking advantage of current rates.
Using our rates and terms as an example and using 150,000 as a round number for the amount financed, the amortization goes like this;
Original loan - 30 yrs. - 6.375% - $150,000 borrowed - total interest paid = $186,889.75 - monthly P&I = $935.81
Refinance - 15 yrs. - 4.25% - $150,000 borrowed - total interest paid = $53,115.17 - monthly P&I = $1,128.42
In this example, less than $200 per month saves the borrower $133,774.58 in interest over the life of the loan and they own the house in half the time.
Give it some thought boys and girls.
This will not surprise any of this board's regulars, but any casual readers who are in a position to refinance should seriously consider taking advantage of current rates.
Using our rates and terms as an example and using 150,000 as a round number for the amount financed, the amortization goes like this;
Original loan - 30 yrs. - 6.375% - $150,000 borrowed - total interest paid = $186,889.75 - monthly P&I = $935.81
Refinance - 15 yrs. - 4.25% - $150,000 borrowed - total interest paid = $53,115.17 - monthly P&I = $1,128.42
In this example, less than $200 per month saves the borrower $133,774.58 in interest over the life of the loan and they own the house in half the time.
Give it some thought boys and girls.
Posted on 7/8/10 at 6:54 pm to Doc Fenton
quote:
Pretty remarkable.
What is? The scale of government intervention or just the actual end effects of it?
Posted on 7/8/10 at 9:24 pm to LSURussian
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