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MSTiger33
LSU Fan
New York City
Member since Oct 2007
16148 posts

re: Current Mortgage Rates
Damnnnn. We got 2.8 on a 30 year jumbo


Hammond Tiger Fan
Vanderbilt Fan
Hammond
Member since Oct 2007
15347 posts

re: Current Mortgage Rates
I have one quick question.

If I'm locked in with a rate with one lender and another lender comes along and offered a better rate, is it unreasonable to ask the first lender to try to adjust the terms to match or since the rate is locked is he unable to do anything? Nothing has been signed yet.


gsvar2004
LSU Fan
Member since Nov 2007
5681 posts
 Online 

re: Current Mortgage Rates
Have the rates went back up slightly? I was quoted 3.0 for 30 on a refi yesterday?


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
46427 posts
 Online 

re: Current Mortgage Rates
No that is not unreasonable


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10
hawkeye007
LSU Fan
Member since Feb 2010
4536 posts

re: Current Mortgage Rates
rates are up on refinances. I havent seent the 30yr under 3% in a couple of weeks. Rates on purchases are still very low. 2.5-2.6% range .


gpburdell
Georgia Tech Fan
ATL
Member since Jun 2015
747 posts

re: Current Mortgage Rates
For you mortgage professionals on here, any experience with people being able to refinance with low income but have significant assets? This is probably more common for retirees.

I've read that smaller banks, credit unions, direct lenders etc can be more flexible with income requirements as they aren't always selling their loans for sale to Freddie or Fannie.

Also, I've read that some lenders will do an asset depletion loan but don't think I have enough for that based on the formulas I've seen to impute an income.

House is worth 520k, mortgage balance is 398k, FICO of 843. Haven't missed/deferred any payments.

Thanks


nolaks
Member since Dec 2013
720 posts

re: Current Mortgage Rates
quote:

rates are up on refinances. I havent seent the 30yr under 3% in a couple of weeks. Rates on purchases are still very low. 2.5-2.6% range


why the discrepancy, do you make more up front on new purchase?


hawkeye007
LSU Fan
Member since Feb 2010
4536 posts

re: Current Mortgage Rates
thank the feds... the rates are high to slow down the refinance boom. Freddi Mac and Fannie Mae are holding more mortgages due the refinance boom and they got nervous. They reversed there stance on adding .5 % to the rate but didn't lower there rates so refinance rates are artificialy high right now.


hawkeye007
LSU Fan
Member since Feb 2010
4536 posts

re: Current Mortgage Rates
you are going to need to have your deposits with a bank that does portfolio loans. The bad part is for example where i work we do portfolio loans but the rates are higher than loans we sell so it makes them not as attractive.


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SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
46427 posts
 Online 

re: Current Mortgage Rates
Non QM
Asset dissipation is your program




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OTIS2
LSU Fan
NoLA
Member since Jul 2008
45127 posts
 Online 

re: Current Mortgage Rates
I locked in a refi at 2,49% last Friday.


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ellesssuuu
Baton Rouge
Member since Mar 2016
1253 posts

re: Current Mortgage Rates
rates are up a little bit this week but I quoted 2.75 and 2.875 earlier. Depends on credit and loan to value


gsvar2004
LSU Fan
Member since Nov 2007
5681 posts
 Online 

re: Current Mortgage Rates
Locked at 2.875 for 30 no points. Down from 3.875. Could have bought down to 2.75 but I’m good dropping a full percent and no points.


rockyvol
LSU Fan
Gonzales
Member since Mar 2014
3 posts

re: Current Mortgage Rates
They actually postponed the .5 hit on pricing until December. There was such a outpouring of opposition by those of us in the industry and others that they felt it would be counterproductive to do right now. I am hoping they indefinitely postpone, but that is unlikely. When I started in the biz, rates were double digits. They have never been lower than they are now for sure.


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GeauxGutsy
LSU Fan
Member since Jul 2017
1726 posts

re: Current Mortgage Rates
quote:

Have the rates went back up


Jesus


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10
Northwestern tiger
Minnesota Fan
Minneapolis
Member since Oct 2005
22024 posts
 Online 

re: Current Mortgage Rates
I closed today on a 30 years at 2.625% with $2900 closing costs, no points (total loan was 187K).
Not sure if i rushed it since rates might got even lower soon.
This post was edited on 9/18 at 4:44 pm


natsoundup
Member since May 2013
227 posts

re: Current Mortgage Rates
Doing almost the same numbers on a close in early October... Rate 2.625 APR 2.815 Closing costs 2427... then got the appraisal waived.. so 1947 in costs...


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