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Started By
Message
re: How far down will mortgage rates get?
Posted on 12/17/08 at 11:15 am to TygerB8
Posted on 12/17/08 at 11:15 am to TygerB8
Yes, with 1% origination.
I currently have 6.675 also but I have a JUMBO loan and will have to do a 1st and 2nd to get the best rate. No one will write JUMBO loans anymore and if they do the rate is in the double digits.
Contact person for the guy who asked:
Terri Heitman
Loan Officer
Hancock Bank
8778 Bluebonnet Blvd.
Baton Rouge, LA 70810
Phone 225-248-7428
Fax 225-769-8432
I currently have 6.675 also but I have a JUMBO loan and will have to do a 1st and 2nd to get the best rate. No one will write JUMBO loans anymore and if they do the rate is in the double digits.
Contact person for the guy who asked:
Terri Heitman
Loan Officer
Hancock Bank
8778 Bluebonnet Blvd.
Baton Rouge, LA 70810
Phone 225-248-7428
Fax 225-769-8432
0
Posted on 12/17/08 at 11:21 am to TygerB8
quote:
I've got 4.625% for 30 yr (no orig, no pts) with my bank right now
Where is this at?
Sorry, haven't read the entire thread, it's it been posted already.
Posted on 12/17/08 at 11:22 am to Will Cover
Home Bank in Lafayette.
Wouldn't now be the time to act? Isn't there a much greater chance of rates going up now than falling further?
Wouldn't now be the time to act? Isn't there a much greater chance of rates going up now than falling further?
Posted on 12/17/08 at 11:38 am to TygerB8
I just locked in at 4.5% to refinance my home in Metairie. 0 origination 0 points.
Posted on 12/17/08 at 11:45 am to cdl2006
quote:
cdl2006
Where at?
Posted on 12/17/08 at 12:06 pm to Ziggy
quote:
Where at?
Julie Baudier with Baudier. Grace & Kinler Mortgage Group. The lender is Standard Mortgage.
This post was edited on 12/17/08 at 12:10 pm
Posted on 12/17/08 at 12:29 pm to cdl2006
quote:
I just locked in at 4.5% to refinance my home in Metairie. 0 origination 0 points.
What are your total fees? Looking at 4.35 with 1% orig.
I'm thinking 0% origination is better.
Posted on 12/17/08 at 12:41 pm to RSO
Estimated closing cost are $2238.50. These are the bulk of the closing cost:
350 Appraisal
300 Underwriting Fee
225 Doc Prep Fee
200 Settlement/Closing Fee
200 Title Search
200 Title Examination
344 Title Insurance
300 Recording Fees
350 Appraisal
300 Underwriting Fee
225 Doc Prep Fee
200 Settlement/Closing Fee
200 Title Search
200 Title Examination
344 Title Insurance
300 Recording Fees
Posted on 12/17/08 at 12:42 pm to cdl2006
What's their number? I want to call them.
Posted on 12/17/08 at 1:10 pm to RSO
Never mind - got the number. Rates ticked back up a bit. The 4.5% at Baudier is now 4.75% (0% origination), and the 4.35% at Hancock now has a 1.625% origination.
This post was edited on 12/17/08 at 1:11 pm
Posted on 12/17/08 at 3:18 pm to RSO
I'm a little new to mortgages, but can someone explain to me origination and points. Thanks
Posted on 12/18/08 at 10:10 pm to lsuguru
origination is usally 1%
Discount points are interest points you pay in advance for a better interest rate
so if you get 2.5 discount points you pay 2.5% of the total mtg in advance to say get a lower int rate for the term of the loan
go to bankrate.com for more and they have a calculator to let you know the best way to go
Discount points are interest points you pay in advance for a better interest rate
so if you get 2.5 discount points you pay 2.5% of the total mtg in advance to say get a lower int rate for the term of the loan
go to bankrate.com for more and they have a calculator to let you know the best way to go
Posted on 12/19/08 at 4:05 pm to 756
Anyone know what a 10 year refinance % rate would be with good credit? Are there any good websites out there to keep up with this without filling out 3 pages of forms??
Posted on 12/19/08 at 5:59 pm to 756
Is origination fee tax deductible like discount points?
Posted on 12/19/08 at 6:47 pm to busbeepbeep
Posted on 12/20/08 at 8:54 am to Will Cover
i'm hearing, within 2 months 3.75 to 4.25 30yr ... the fed just cut rates, it takes awhile for trickle down to happen...its coming 
Posted on 12/20/08 at 11:10 am to Plucked
Plucked...where are you hearing this from?
I missed out earlier in the week when the rate was sub 5% with no orig fee or pts. I'm hoping for sustained 4.5% to 5% 30 yr fixed rates so that I can have time to lock in and see some significant savings.
I missed out earlier in the week when the rate was sub 5% with no orig fee or pts. I'm hoping for sustained 4.5% to 5% 30 yr fixed rates so that I can have time to lock in and see some significant savings.
Posted on 12/20/08 at 10:40 pm to TygerB8
quote:
I'm hoping for sustained 4.5% to 5% 30 yr fixed rates so that I can have time to lock in and see some significant savings.
My advice..lock in at 4.75% or the lowest you can get then you have 60 days to pull the trigger or pick up a lower rate should one materialize. I think the mortgage rates will be the most volatile for the next couple of months then is going to settle somewhere afterward so this might be the time to get a really good rate.
Posted on 12/21/08 at 7:49 am to CAD703X
How much is the option to pick up a lower rate during those 60 days?
With my bank, after completing the application, you have a 60 day window to pull the trigger on a rate...I was not told of any option to lock in a rate and then float down.
With my bank, after completing the application, you have a 60 day window to pull the trigger on a rate...I was not told of any option to lock in a rate and then float down.
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