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Started By
Message
May mortgage interest rates
Posted on 5/3/17 at 3:25 pm
Posted on 5/3/17 at 3:25 pm
Would it be a good move to lock in today at 4.125 or can I hold out for lower?
3
Posted on 5/3/17 at 3:26 pm to SallyWheeler
Lock it right meow.
Posted on 5/3/17 at 3:30 pm to SallyWheeler
If its conv. 30. yr. paying no points to get it 4.125 is a great rate today. Don't think there are going to be any big movements in the next month or two, but if their were up has a lot more room to run than down.
Posted on 5/3/17 at 3:31 pm to SallyWheeler
quote:
Would it be a good move to lock in today at 4.125 or can I hold out for lower?
Rates are going up. Not drastically but trending upwards. I would lock in 4.125 today personally. That isn't a bad rate, assuming 30 year with decent credit.
Posted on 5/3/17 at 3:32 pm to stevengtiger
I was offered 4.125 with $1000 buyer credit toward closing cost or 4.25 with $2400 buyer credit toward closing.
ETA: I think I am content even with 4.25 and like that cash up front.
ETA: I think I am content even with 4.25 and like that cash up front.
This post was edited on 5/3/17 at 3:34 pm
Posted on 5/3/17 at 3:38 pm to SallyWheeler
quote:
ETA: I think I am content even with 4.25 and like that cash up front.
depends on how long you plan on staying in the new house....
on $250,000 loan the .125 difference will take about 6 years to equal the $1400 you get up front... longer if you factor in the tax deduction and the "today's dollar" valve of the $1400 you save now.
Posted on 5/3/17 at 3:39 pm to SallyWheeler
Well, you will obviously pay the extra $1,400 back over the course of the loan but if that money comes in handy now, the difference in payments will be pretty small.
Posted on 5/3/17 at 6:04 pm to HYDRebs
quote:
4.125 is a great rate today
historically its an amazing rate, yes higher than last summer or a few years ago. but still amazing.
Posted on 5/3/17 at 9:37 pm to Hawkeye95
A guy I work with said he got 3.875 on Monday. He was very surprised as another person had him quoted at 4.25. I recently got quoted 4.15 myself.
Not sure why there is such a difference. We both have good credit. What all factors in?
Not sure why there is such a difference. We both have good credit. What all factors in?
Posted on 5/3/17 at 10:36 pm to stevengtiger
quote:
Rates are going up.
Maybe.
Couple weeks ago they were back down below 4% after being up to 4.2-4.5
Posted on 5/4/17 at 8:46 am to AubieALUMdvm
quote:
Couple weeks ago they were back down below 4% after being up to 4.2-4.5
Looking at a longer term here. If someone is able to lock in anything around 4% now, I would pull the trigger. I wouldn't plan on waiting 6 months or longer to hope for something better. Just my opinion, but also the opinion of my banker and a few others in the banking industry that I chat with regularly.
Posted on 5/4/17 at 1:10 pm to 704Reb
quote:
Not sure why there is such a difference. We both have good credit. What all factors in?
so much, but a big part is location. And how much in points you are paying.
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