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Message
Mortgage Rates......
Posted on 7/10/13 at 9:03 am
Posted on 7/10/13 at 9:03 am
Where are they at now? I took too long a few weeks ago locking in and missed some good rates, but now I'm hearing they've come back down? Also, is a broker more expensive to go through than a bank?
4
Posted on 7/10/13 at 9:53 am to TJG210
At my FIL's fairly large regional bank, 4.25%. Still dirt cheap compared to rates in the past, just up from my 3.25% 30 yr in March.
Posted on 7/10/13 at 10:01 am to wegotdatwood
I'm sitting at 5.25 and looking to go down, but just want to make sure it's worth my whole before doing anything.
Posted on 7/10/13 at 10:09 am to TJG210
Others here have said if you can lower by a point, do it. I don't know the numbers with that though, maybe others can give more detailed input.
Posted on 7/10/13 at 11:04 am to TJG210
your not going to go down from 5.25% i work for a bank and our rates are 5% on a 30yr right now..you missed the boat sorry
Posted on 7/10/13 at 11:49 am to hawkeye007
5% is still cheap $. Obviously not savings for the OP, but I 
at folks who are angry at that rate.
at folks who are angry at that rate.
Posted on 7/10/13 at 12:28 pm to wegotdatwood
quote:
At my FIL's fairly large regional bank, 4.25%.
Really?
I'm under contract now and am shopping rates. I would love to lock that in.
Do multi families incur a risk adjustment?
Posted on 7/10/13 at 12:36 pm to Oenophile Brah
quote:
Do multi families incur a risk adjustment?
Unless you live in one unit, the rate will be higher.
Posted on 7/10/13 at 1:05 pm to dat yat
quote:
Unless you live in one unit, the rate will be higher.
I will be, owner occupied.
Does 4.25 sound right? I've been hearing closer to 4.5.
Posted on 7/10/13 at 1:29 pm to Oenophile Brah
Rates have been fluctuating since the Fed's potential "tapering" was announced. Shop around and lock in the best one.
If you get 4.5% or less, your rental income will probably cover your whole note, or at least the P&I. Mine did when I had a double.
Buying a double to live in is a good move.
If you get 4.5% or less, your rental income will probably cover your whole note, or at least the P&I. Mine did when I had a double.
Buying a double to live in is a good move.
Posted on 7/10/13 at 1:39 pm to TJG210
I locked in 30 yr 3.875% last week via my credit union. My buddy is a mortgage broker and he couldn't touch it, 4.1% was the best he could get me
Posted on 7/10/13 at 2:06 pm to geauxnc0308
FNMA commitment rate is a 4.068% right now. Add ~50bps of servicing and fees and you are looking around 4.625-4.75%
Should be a reasonable starting point.
Should be a reasonable starting point.
Posted on 7/10/13 at 2:11 pm to bbvdd
Fwiw, that 4.25% was two weeks ago.
Posted on 7/10/13 at 3:36 pm to wegotdatwood
Thank god I got my 3.8% I think I was the last day before the 4's
This post was edited on 7/10/13 at 3:37 pm
Posted on 7/10/13 at 3:50 pm to Hu_Flung_Pu
3.375 30yr in April.
Posted on 7/10/13 at 3:53 pm to TJG210
what is the future outlook on rates? I have a year left of college and would like to know what to look forward to.
Posted on 7/10/13 at 4:12 pm to iknowmorethanyou
quote:
3.375 30yr in April.
I doubt we'll see below 3.5 anytime soon.
Posted on 7/10/13 at 4:17 pm to Paul Allen
Definitely. I'm glad I pulled the trigger.
Posted on 7/10/13 at 4:22 pm to jimbeam
quote:
what is the future outlook on rates? I have a year left of college and would like to know what to look forward to.
Probably approaching 5.5% to 6% this time next year for 30 yr. JMO. Which is still a good rate but it means a lot more house payment!
What's remarkable is how much they cratered the last couple of years. Rates were north of 20% at one point in the early 80's.
Posted on 7/10/13 at 6:58 pm to jimbeam
Got in at 2.8% on a 15 !!
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