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SanJoseTigerFan
Maryland Fan
San Jose, CA
Member since Feb 2013
1121 posts
 Online 

Home interest rates outlook
Anybody believe they are going to go lower?

Not sure if I should wait or refinance my house to a 2.25% 30yr fixed...
This post was edited on 10/14 at 7:57 pm


LSUcam7
FL
Member since Sep 2016
3479 posts
 Online 

re: Home interest rates outlook
Unless banks start paying us to take mortgages out, then this is about as low as they’ll get.

Refinances and purchases have been so active banks have increased risk management measures. Get it while you can.


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83
HarveyBanger
Member since Mar 2018
714 posts

re: Home interest rates outlook
I’m wondering same thing. Took out a mortgage in March at 3.5% on a 30 year.

Wondering if it’s worth for me to start looking to refinance already


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02
Rize
Texas Fan
Baton Rouge
Member since Sep 2011
10463 posts
 Online 

re: Home interest rates outlook
What are 30 year mortgages running? I locked at 2.625 but it expired on the 28th of September so I extended it.
This post was edited on 10/14 at 8:52 pm


SDVTiger
Hawaii Fan
Cabo San Lucas
Member since Nov 2011
47180 posts

re: Home interest rates outlook
quote:

Not sure if I should wait or refinance my house to a 2.25% 30yr fixed...



You actually think a 30yr will get lower


seawolf06
LSU Fan
Raleigh, NC
Member since Oct 2007
7440 posts

re: Home interest rates outlook
quote:

2.25% 30yr fixed...


Historical lows - Just do it


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40
windshieldman
USA Fan
Member since Nov 2012
11190 posts
 Online 

re: Home interest rates outlook
Feel I've screwed up on the refinancing part. Refinanced 2 years ago, went from 5-4%. Refinancing now, going down to 3% from 4. A/C went out so doing a cash out to pay for it. Would have been 2.7% but cash out made it go up to 3. Feel like after all the fees for last 2 refinancing it was a bad idea. I'll be in my house for at least another 10 years though.


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01
MortgageMaven
LSU Fan
Baton Rouge
Member since Sep 2020
13 posts

re: Home interest rates outlook
Rate depends on the loan amount and credit score. I can email you if you want to see today's rates


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00
MortgageMaven
LSU Fan
Baton Rouge
Member since Sep 2020
13 posts

re: Home interest rates outlook
Rates depend on the loan amount and credit. Let me know if you want me to send over today's rates


wutangfinancial
LSU Fan
Dallas, TX
Member since Sep 2015
4751 posts
 Online 

re: Home interest rates outlook
quote:

You actually think a 30yr will get lower


I would almost call this the lock of the century


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00
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USA
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Tiger Prawn
USA Fan
Member since Dec 2016
16647 posts

re: Home interest rates outlook
I'm about to close on mine at 2.75% for 30 year. Didn't want to wait too long in case the election results and/or covid shutdown related foreclosures caused housing values to go down. I only bought the house a year ago and wanted to avoid coming out of pocket for the refi so had to make sure appraisal value didn't dip.


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10
ks_nola
New Orleans Saints Fan
WD
Member since Sep 2015
77 posts

re: Home interest rates outlook
what's the rate and monthly payment for 10 or 15 yr refi. Original 15yr loan @145k of which i still owe $75k.


hawkeye007
LSU Fan
Member since Feb 2010
4583 posts

re: Home interest rates outlook
2.625-2.75 you loan amount is goingt to keep from the best rates.


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hawkeye007
LSU Fan
Member since Feb 2010
4583 posts

re: Home interest rates outlook
i hate when people think like this. Historical all time low rates and they want to hold out for fairy land. No offense ment when i say this, i am just trying to let you see this from a different view. Banks are giving away money right now. Unitl this march the lowest 30yr rate was 3.3-3.55. Purchase money is 2.5-2.625% right now. thas a full point under all time lows. I expect the rates to start to rise 3-4 months after a vaccine is produced. so you can wait and miss these rates or get off the fence and grab a great interest rate.


Im4datigers
LSU Fan
Northern Virginia
Member since Oct 2003
3294 posts

re: Home interest rates outlook
As I tell all my customers - pigs eat at the trough, hogs get slaughtered. Lock and close on that rate. You’re over thinking it big time.

Also, so what if they drop another 25 bps, unless your loan amount is $5 million or something, that small rate decrease isn’t really going to move the needle very much


Tigerpaw123
USA Fan
Louisiana
Member since Mar 2007
14674 posts

re: Home interest rates outlook
quote:

Also, so what if they drop another 25 bps, unless your loan amount is $5 million or something, that small rate decrease isn’t really going to move the needle very much


completely agree, anything lower is just bragging rights, makes little, to no difference for the vast majority of homeowners


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00
ODP
Baylor Fan
Conroe
Member since Oct 2015
1127 posts

re: Home interest rates outlook
Where did you get 2.25% from???


Im4datigers
LSU Fan
Northern Virginia
Member since Oct 2003
3294 posts

re: Home interest rates outlook
The internet. He hasn’t seen how many points come with it.


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40
wutangfinancial
LSU Fan
Dallas, TX
Member since Sep 2015
4751 posts
 Online 

re: Home interest rates outlook
quote:

i hate when people think like this




You must really hate it after 40 years
This post was edited on 10/15 at 12:47 pm


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20
TheWalkoff
LSU Fan
Baton Rouge
Member since Jan 2019
184 posts

re: Home interest rates outlook
quote:

Historical all time low rates and they want to hold out for fairy land.


You’re spot on. The Banks need to make some $ to take on that risk. Rates aren’t going lower.

quote:

I expect the rates to start to rise 3-4 months after a vaccine is produced


I sort of disagree with you here. The Fed announced they’ll keep their rates near zero until 2023. Of course they could change course, but I don’t think they’d say that and then raise rates in the near term. But who knows, they could flip their position next week


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