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Started By
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Great insight on interest rates, and how low they are likely to go.
Posted on 7/20/20 at 9:14 pm
Posted on 7/20/20 at 9:14 pm
Informative article about how mortgage rates are structured using coupons
How low can interest rates go?
From just skimming it looks like the lowest a 30 year mortgage can go right now is 2.75, with the possibility of 2.25, but that would be with a very bleak outlook of our future, and mentions a 1.75 but is impossible at this time.
How low can interest rates go?
From just skimming it looks like the lowest a 30 year mortgage can go right now is 2.75, with the possibility of 2.25, but that would be with a very bleak outlook of our future, and mentions a 1.75 but is impossible at this time.
2
Posted on 7/20/20 at 10:27 pm to Rust Cohle
Closed on a 30 year today at 2.625
Posted on 7/21/20 at 8:57 am to thatguy
quote:With who and how many points did you pay?
Closed on a 30 year today at 2.625
Posted on 7/21/20 at 9:04 am to thatguy
I know someone doing this on an FHA and another on an RDA loan with no money down. 30 year, 2.625. Pretty insane to get that rate without a down payment.
Posted on 7/21/20 at 9:06 am to MrJimBeam
The rates I’m being quoted are nowhere near this.
Posted on 7/21/20 at 10:28 am to RoyalWe
Shop it. Some lenders have turned the spickets off and some are full steam ahead.
I was quoted 3.44% at par last week and on the same day quoted 2.875% at par with another lender.
The GAp in the market between certain lenders is huge right now.
I was quoted 3.44% at par last week and on the same day quoted 2.875% at par with another lender.
The GAp in the market between certain lenders is huge right now.
Posted on 7/21/20 at 10:48 am to RoyalWe
quote:
The rates I’m being quoted are nowhere near this.
If you have decent credit/down payment you should be able to find rates in that range. I locked in at 2.75 earlier this month; looks like several people in the mortgage thread have locked similar rates as well.
Posted on 7/21/20 at 11:08 am to FinleyStreet
I’m trying to refinance with cash out keeping more than 20% in equity. So far I’ve been quoted 4% and 3.875% for a 30 year conventional with zero points (or right at it). My credit rating is above 800. My wife’s is 761.
Taking suggestions for lenders.
Taking suggestions for lenders.
Posted on 7/21/20 at 11:33 am to RoyalWe
quote:
Taking suggestions for lenders.
Keep shopping, call everyone you have time to call. Shouldn’t be but one hard pull on your credit as long as they are all within a 45 day timeframe.
Posted on 7/21/20 at 12:46 pm to RoyalWe
quote:
I’m trying to refinance with cash out
Cash out will always be a higher rate.
Posted on 7/21/20 at 12:57 pm to Brobocop
I got a cash out refi a cpl months ago at 3% for 30, keep shopping.
Posted on 7/21/20 at 8:15 pm to RoyalWe
I work for Assurance Financial and will be glad to work up some numbers for you.
Posted on 7/21/20 at 8:35 pm to Im4datigers
As stated in the article, it basically depends on what the investor is looking to make. With set fees in place the lender is going to have their certain piece to make prior to selling the loan.
Posted on 7/21/20 at 8:35 pm to ellesssuuu
My 3.0% from two months ago looks bad now 
Posted on 7/21/20 at 8:57 pm to lynxcat
I refinanced my house to 3.0 as well a few months back
Posted on 7/21/20 at 9:25 pm to Brobocop
Yes, I found this out. A quoted 3.875% dropped to a 3% without the cash out. I guess I found out the issue...
Posted on 7/21/20 at 9:26 pm to ellesssuuu
Thanks for the offer. The wife and I are deciding if we are going to forego the cash out.
Posted on 7/21/20 at 9:35 pm to RoyalWe
What’s your loan amount, term, and estimated value?
Posted on 7/21/20 at 11:48 pm to RoyalWe
Dont go to 80% cash out
There is a big hit over 75 conv
You are better off with FHA at 80%
There is a big hit over 75 conv
You are better off with FHA at 80%
Posted on 7/22/20 at 12:35 am to thatguy
quote:
Closed on a 30 year today at 2.625
I’ve been casually looking around and I’m not worried about closing costs and buying points to a certain point. Wife and I have 800 credit scores and will have 30% down. If I could get this I may finance my pool and shop vs paying cash for it.
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