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Message
re: Current Mortgage Rates
Posted on 5/14/20 at 2:02 pm to LSU5508
Posted on 5/14/20 at 2:02 pm to LSU5508
Everyone is discussing primary residence mortgage refi, but has anyone found anything sub 3.5 on an investment property refi? GMFS told me yesterday that investment property mortgages aren't hot on the market right now (makes sense) which is why the IRs haven't dropped like the primary IRs. Have y'all found the same?
1
Posted on 5/14/20 at 2:08 pm to Broken Ear Glen
Yes Investment properties are going to be around 4 to low 4's on the 30 for a refi. It's not necessarily that they haven't dropped like primary residence mortgages, but they started higher as well. It's just a riskier asset.
Posted on 5/14/20 at 2:25 pm to LSU5508
Standard Mortgage in S'port Louisiana.
Posted on 5/14/20 at 2:37 pm to HYDRebs
I thought 4.875 was pretty standard for refinance rates for investment property?
Posted on 5/14/20 at 2:41 pm to LSU5508
i locked 2.875% on 30yr today and 2.625% on 15yr refi. It's crazy i didnt think they would drop back under 3%
Posted on 5/14/20 at 5:33 pm to Sho Nuff
Rates are great right now for primary purchase/refinances. Getting a lot of appraisal waivers and low reissue rates on title on refinances!
Investment property & Jumbo rates aren't great now but still can be low enough.
If you have good credit, a rate above 3.75%- 4% and you are going to stay in your house for the next year or so, you probably need to refinance.
FYI: I can do jumbo (and any) loan in 46 states, including Hawaii.
LINK
Investment property & Jumbo rates aren't great now but still can be low enough.
If you have good credit, a rate above 3.75%- 4% and you are going to stay in your house for the next year or so, you probably need to refinance.
FYI: I can do jumbo (and any) loan in 46 states, including Hawaii.
LINK
This post was edited on 5/14/20 at 5:40 pm
Posted on 5/14/20 at 5:34 pm to hawkeye007
Where? I just locked a 30 year at 3.0, thought I’d done well.
Posted on 5/14/20 at 7:15 pm to hawkeye007
Should be closing here within a week on a 15 year/2.5% refi. They waived the appraisal requirement. I did have to pay 0.578% (principal balance X .00578) on the principal balance to buy down to 2.5% though.
Moving from a 4.5% 30 year to a 2.5% 15 year
Moving from a 4.5% 30 year to a 2.5% 15 year
This post was edited on 5/15/20 at 9:45 am
Posted on 5/15/20 at 6:45 am to hawkeye007
What bank??
Posted on 5/15/20 at 7:31 am to HYDRebs
quote:
They very easily could come off the floor any day based on market environment
No that already happened for the last 60 days
They are buying the market and the floor 2.5 wont be going anywhere anytime soon
Posted on 5/15/20 at 7:46 am to SDVTiger
SDVTiger and ellesuuu-
If I just did a 15 yr refi @ 2.75, paying $2900 in closing costs, at what rate would it make sense for me to refi again. Loan is about $250k. No plan on moving.
If I just did a 15 yr refi @ 2.75, paying $2900 in closing costs, at what rate would it make sense for me to refi again. Loan is about $250k. No plan on moving.
Posted on 5/15/20 at 8:17 am to 632627
You got a one of if not the best rates in the history of rates. You should be very very happy about your scenario plus being serviced by UWM
Q4/Q1 of 2021 rates will be lower on the 30yr for sure once Rona is past us
Everyone will be where UWM is on this new program they rolled out
Banks do not want to be lending out 15yrs at 2.25%
Imo I do not think they will go much lower from what you have currently to make it worth changing and paying costs again
Q4/Q1 of 2021 rates will be lower on the 30yr for sure once Rona is past us
Everyone will be where UWM is on this new program they rolled out
Banks do not want to be lending out 15yrs at 2.25%
Imo I do not think they will go much lower from what you have currently to make it worth changing and paying costs again
Posted on 5/15/20 at 8:29 am to 632627
quote:
If I just did a 15 yr refi @ 2.75
quote:
at what rate would it make sense for me to refi again
subtle brag
Posted on 5/15/20 at 10:30 am to Jim bean xxx
hancock
Posted on 5/15/20 at 10:37 am to DawgCountry
quote:
subtle brag
Bummed I didn’t get 2.5% !!!!
But overall very happy.
Thanks guys.
Posted on 5/15/20 at 11:01 am to hawkeye007
quote:
hawkeye007
If you missed out the first time, call this guy.
Posted on 5/15/20 at 12:14 pm to 632627
Rate would have to be 1.75 or lower. Don’t think that will happen
Posted on 5/15/20 at 1:57 pm to HowboutthemTigers
quote:
HowboutthemTigers
I still haven't pulled the trigger. Where are you on a 15 year?
Posted on 5/15/20 at 3:44 pm to BigOrangeBri
Is a 20 year below 3.0 yet?
Posted on 5/15/20 at 5:31 pm to HowboutthemTigers
I'll likely reach out to you next week or so.
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