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Started By
Message
re: Current mortgage rates vs. recent lows, and vs. projections
Posted on 8/11/11 at 10:14 am to dewster
Posted on 8/11/11 at 10:14 am to dewster
quote:
I am praying that they stay this low for at least another 9-10 months.
I can't see that happening, although they should remain low by long-term standards. IF the equity markets stabilize or tick up, those who fled to treasuries will move back to equities, and yields (and mortgage rates) will return to where they were several weeks ago. JMO.
1
Posted on 8/11/11 at 11:46 am to Dusty Bottoms
I currently have a 30 year mortgage but I am going to refinance to a 15 year. Got offered a 3.5% but with 1% origination fee. 1% seems high to me, I was expecting a .25% or .5% origination fee. Thoughts?
Posted on 8/11/11 at 11:58 am to TexasHog22
quote:
1% origination fee. 1% seems high to me, I was expecting a .25% or .5% origination fee. Thoughts?
1% is standard I think for most closing fees.
Posted on 8/11/11 at 12:00 pm to C
You should be able to get 1/2 percent
Posted on 8/11/11 at 12:01 pm to LSU1018
quote:
You should be able to get 1/2 percent
really? Damn I got got...
Posted on 8/11/11 at 1:05 pm to TexasHog22
The 10 yr yield is up today, but you should still be able to get 3.5% with no points or origination.
Shop around and play the banks/brokers against each other if you have to. Tell bank "a" "I have bank 'b' offering 3.5% no/no....I really want to do business with you...can you match it?"
Shop around and play the banks/brokers against each other if you have to. Tell bank "a" "I have bank 'b' offering 3.5% no/no....I really want to do business with you...can you match it?"
Posted on 8/11/11 at 1:10 pm to C
quote:
1% is standard I think for most closing fees.
It may be standard, but I would never pay points or origination unless buying down the rate made sense in my circumstances. It never has for me.
Posted on 8/11/11 at 3:30 pm to KnoxvilleBerryTiger
I just refinanced on a 30 year with 4.75 earlier this week, but I had locked in the rate a month ago. 
The peace of mind is worth it though.
The peace of mind is worth it though.
Posted on 8/11/11 at 3:54 pm to will1883
I've been bouncing banks off each other looks like I am gonna be able to get 3.5 no/no on a 15 year refinance. Pretty pumped.
Posted on 8/11/11 at 4:02 pm to TexasHog22
I locked in 3.5 earlier this week with no points. Iberia really is a great bank to work with, they are so accomodating.
Posted on 8/11/11 at 4:36 pm to TexasHog22
quote:
I've been bouncing banks off each other looks like I am gonna be able to get 3.5 no/no on a 15 year refinance. Pretty pumped.
Good job.
I could be totally wrong, but I feel like I caught the bottom - or pretty close to it - yesterday. I think falling equities (and related falling rates) was fear based, and hopefully a little more normalcy / less volatility will return to the markets from here on. I am probably in the minority, but I just don't see a major double-dip coming. Regardless of what happens, I am thrilled with my rate and have virtually no incentive to pay my mortgage down any faster than I have to.
Posted on 8/12/11 at 11:16 pm to Dusty Bottoms
Sorry guys, I have not checked back on this topic. Someone asked for a link. The bank is Home Federal Bank of Louisiana. I locked in a 30yr at 3.75% with 1% orig on Wednesday. The loan will get sold to someone like a Wells Fargo, etc.
Posted on 8/13/11 at 7:17 am to The General
You have to be paying points. No way you got 3.75 on a 30 with no points
Posted on 8/13/11 at 6:11 pm to LSU1018
No BS and no points. I'm looking at my docs right now. My new mortgage is 30yrs at 3.7500%
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