- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Mortgage rates continue to drop
Posted on 5/12/10 at 6:32 pm
Posted on 5/12/10 at 6:32 pm
4.3% for 15 year
3.6% for 5/1 arm
How much lower can they reasonably go? What would cause them to rise?
How significant is it that 15 year rates are at record lows but the 30 year is not? Does this signify a bet that the recovery will not be significant through this decade?
Its almost like the banks are daring people to buy houses and refinance... Does the housing market remain bleak? Is this like drug dealers giving the first hit for free?
3.6% for 5/1 arm
How much lower can they reasonably go? What would cause them to rise?
How significant is it that 15 year rates are at record lows but the 30 year is not? Does this signify a bet that the recovery will not be significant through this decade?
Its almost like the banks are daring people to buy houses and refinance... Does the housing market remain bleak? Is this like drug dealers giving the first hit for free?
3
Posted on 5/12/10 at 6:45 pm to C
Didn't know the 15 was that low. I think I may refi.
Posted on 5/14/10 at 11:10 am to I Love Bama
Two days ago I checked them
15 year 4.2
30 year 4.75
I need them to hold this low for about 7 more months.
15 year 4.2
30 year 4.75
I need them to hold this low for about 7 more months.
Posted on 5/14/10 at 1:08 pm to Sick Freak
quote:
I need them to hold this low for about 7 more months.
at least until i sell my Colorado house.
Posted on 5/14/10 at 2:58 pm to I Love Bama
quote:
Didn't know the 15 was that low. I think I may refi.
I wanted to, but the closing costs are too high for me. I am currently at 5.375% on a 30 year and I don't see it saving me any money with a refi.
Posted on 5/14/10 at 3:39 pm to TigerFanatic1
quote:
I wanted to, but the closing costs are too high for me. I am currently at 5.375% on a 30 year and I don't see it saving me any money with a refi.
I was alway told that if you can drop your APR 1% or more then it will save you money.
You might be able to use a mortgage calculator to get a better idea of what you will be in for.
as for closing cost most banks look something like this
1% of the loan amount
17.00 (estimate) flood determination
500.00 (estimate) attorney fees to prepare the mortgage work
300 (estimate) recording cost
500 (estimate) appraisal fee
250 (estimate) underwriting fee
This post was edited on 5/14/10 at 3:40 pm
Posted on 5/14/10 at 3:55 pm to Sick Freak
quote:
Sick Freak
I have always heard the same, but I didn't give all the information. My kicker is that, I have 25 years 2 months left on the loan. I figured up last year what it would take for me to pay the loan off in 10 years, so I pay that amount now and will have it paid off in 9 years if I keep it up. When I run the numbers, my not won't change by much, except the principal will go up and I will pay less in interest. It is about a wash to me, when I figure in writing off the extra interest instead of having the extra principal.
Posted on 5/14/10 at 9:16 pm to TigerFanatic1
I want to refi really badly right now, but I'm not currently living in my home so it counts as an investment property. Still worth it, but if it holds for a few more months, I'll be back in the home.
Posted on 5/14/10 at 9:30 pm to TigerFanatic1
quote:
I wanted to, but the closing costs are too high for me. I am currently at 5.375% on a 30 year and I don't see it saving me any money with a refi.
I got that same rate, for conventional and 20% down (locked in 2 days ago). I shouldn't complain, considering my credit history.
Posted on 5/15/10 at 12:24 am to C
Pisses me off. I locked in two weeks ago at 4.25% for a 10 year. I am sure it is less now.
Posted on 5/15/10 at 2:38 am to ShermanTxTiger
I am currently in a 15 yr loan at 6 percent. I have about 12 and 1/2 yrs left. I was thinking about refinancing to a 10 yr. We will probably move in 2-3 yrs though so not sure if it's worth it.
Posted on 5/15/10 at 2:52 am to LSU1018
To the poster above 10yr is only at 4.125% today at par. If you are moving in 2-3 yrs don't waste your time you will not recover the closing cost during that time. If you decide to stay then the 10yr was at 4.125% today and it would definitely be worth your while
Posted on 5/15/10 at 3:46 am to TigerFanatic1
quote:
I am currently at 5.375% on a 30 year and I don't see it saving me any money with a refi.
You could probably take negative points to drive down the bank fees to almost nothing and still have a lower rate.
Posted on 5/15/10 at 5:36 am to C
quote:
You could probably take negative points to drive down the bank fees to almost nothing and still have a lower rate.
I will look into this, because I haven't even heard of this.
Posted on 5/15/10 at 10:12 am to Sick Freak
quote:
Two days ago I checked them 15 year 4.2 30 year 4.75
what bank? I am starting to look, thanks
Posted on 6/21/10 at 5:07 am to FriscoKid
Bump Update:
30yr - 4.8
15yr - 4.16!
5/1 - 3.78
I thought I might have missed the lows a few weeks ago, but they have begun sliding once again. It's getting to the point of insanity if you haven't refinanced and have 10 years left on your loan.
30yr - 4.8
15yr - 4.16!
5/1 - 3.78
I thought I might have missed the lows a few weeks ago, but they have begun sliding once again. It's getting to the point of insanity if you haven't refinanced and have 10 years left on your loan.
Posted on 6/21/10 at 6:15 am to C
I am absolutely amazed at the levitation in rates, I will say that. Zero bump after the Fed ended the MBS buybacks. I guess since the GSEs make up 90+% of the US market now, as long as investors believe pols won't press the proverbial red button, they're fine with the current rock bottom spread. I almost want to buy a house just so I can borrow at that rate.
Posted on 6/21/10 at 7:39 am to C
Because banks are sitting on bailout cash - keeping rates low hoping the feds don't force them to start loaning that money. Inflation is most definitely coming though...Printing billions of dollars above the gold standard is creating an inflation certainty
Posted on 6/21/10 at 12:11 pm to dancnkc
I see interest rates remaining low for an extended period of time. Inflation is not on any kind of rapid rise. My sense, is US bond markets are going to continue to be seen as the best place to protect your money until commodities and equities become more stable. Of course, the more bond demand the lower the rates will remain. I dont think the Fed got the stones to raise interest rates with the housing market on the brink and the mid-terms just around the corner?
I believe we are in the "eye of the storm" right now and by staying liquid you will get some amazing bargins in the next two years if patient.
I believe we are in the "eye of the storm" right now and by staying liquid you will get some amazing bargins in the next two years if patient.
Posted on 6/22/10 at 11:14 am to Interception
first who are you guys quoteing rates from? please dont tell me bankrate. second explain negative points?
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News