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Started By
Message
Refinance rates #2
Posted on 3/16/20 at 9:21 am
Posted on 3/16/20 at 9:21 am
for all of you who missed the boat this is going to be your week. don't shop all week trying to get an 1/8th of a point lower. Remember the guy that quoted you the best rate last time call him/her and lock in.
just like last time these rates have about 5-7 days and they will be gone. good luck happy hunting
just like last time these rates have about 5-7 days and they will be gone. good luck happy hunting
10
Posted on 3/16/20 at 9:26 am to hawkeye007
What rates are you seeing right now for a 30 year refi?
Posted on 3/16/20 at 9:28 am to PrettyLights
quote:
What rates are you seeing right now for a 30 year refi?
This. Unless sub 3 is happening I am staying locked on current rate.
Posted on 3/16/20 at 9:31 am to hawkeye007
two weeks ago when fed fund benchmark was 100-125 bps, i saw a 2.875% 30 year fixed rate on Ally.
today, with fed funds now at 0%, that same 30 year rate was 3.675% on Ally.
have to imagine there will be some resetting downward over the next few days, and then brokers will be full and rates will tick back up
today, with fed funds now at 0%, that same 30 year rate was 3.675% on Ally.
have to imagine there will be some resetting downward over the next few days, and then brokers will be full and rates will tick back up
This post was edited on 3/16/20 at 9:35 am
Posted on 3/16/20 at 9:36 am to catfish 62
quote:
two weeks ago when fed fund benchmark was 100-125 bps, i saw a 2.875% 30 year fixed rate on Ally. today, with fed funds now at 0%, that same rate was 3.675% on Ally. have to imagine there will be some resetting downward over the next few days, and then brokers will be full and rates will tick back up
Mortgage rates did not follow the fed moving down, which is why the OP’s suggestion is curious. Has something changed this morning because rates are actually higher from what everyone else is seeing.
quote:
for all of you who missed the boat this is going to be your week.
Where are you seeing these low rates today? You work in the mortgage industry. What are the rates this morning you are seeing?
This post was edited on 3/16/20 at 9:40 am
Posted on 3/16/20 at 9:50 am to PrettyLights
just locked a 15yr at 2.625% for a customer. 30yr rate should be 3% right now. the market just opened so the online lenders have yet to adjust there pricing.
Posted on 3/16/20 at 10:00 am to hawkeye007
quote:
just locked a 15yr at 2.625% for a customer.
I'd potentially refinance if I could find this for a 15 year.
Posted on 3/16/20 at 10:17 am to catfish 62
quote:
have to imagine there will be some resetting downward over the next few days, and then brokers will be full and rates will tick back up
I just closed on a refinance Friday. I was talking to the attorney, and he was telling me that the mortgage rates are climbing because of supply & demand. There are so many people refinancing that he lenders are inundated with applications. As a result, they started raising the rates to try to slow things down and catch up.
If this is the case, I am not sure when the market will be able to react to the new fed rates.
Posted on 3/16/20 at 10:24 am to hawkeye007
quote:
just locked a 15yr at 2.625% for a customer. 30yr rate should be 3% right now. the market just opened so the online lenders have yet to adjust there pricing.
Had rates delayed this morning. That must be a massive drop off for you since Friday. I'm not seeing that in the market at all.
Posted on 3/16/20 at 10:27 am to HYDRebs
they come out i locked 2 loans and then rates got suspended.
Posted on 3/16/20 at 10:37 am to hawkeye007
I just emailed you.
Posted on 3/16/20 at 10:38 am to hawkeye007
quote:
they come out i locked 2 loans and then rates got suspended.
Get them while you can. Ours just came out definitely better than the end of last week still.
Posted on 3/16/20 at 10:45 am to HYDRebs
What were yours?
Posted on 3/16/20 at 10:48 am to Lickitty Split
Rates seemed to be super compressed on the 30. More than I have seen in long time. Don't forget to ask how much it is to buy to the next rate. Looking around 3.25% at par, but buying down to a lower rate is cheap this morning. 15 year around 2.875%.
This post was edited on 3/16/20 at 1:45 pm
Posted on 3/16/20 at 10:51 am to HYDRebs
My bank is super slow about talking about it. Anyone in MS able to help a brother out?
Posted on 3/16/20 at 11:09 am to hawkeye007
The rates suck so far today.
Posted on 3/16/20 at 11:32 am to Tri City Tigers
They are raising rates to slow down the request for new refis. They don't have the workforce to process the requests quickly enough, so raising rates allows them to ramp up and process requests. I'm thinking that requests will slow down and we'll see rates start to creep back down at some point.
Posted on 3/16/20 at 11:37 am to TheFlyingDrogbas
I currently have 10yrs left on a 15yr @ 3.65%, and last yr we took out a heloc @ 5.75% for some renovations. I’ve asked two separate lenders in the past couple weeks and they’ve both come back with 3% for a 10yr note. It would save a significant amount of money, but I assumed we could get a lower rate.
Posted on 3/16/20 at 11:40 am to Tigahs2007
quote:
Tigahs2007
I can help you out in Mississippi. email my username gmail and I'll get back to you today. May be later today but it will be today.
Posted on 3/16/20 at 12:43 pm to hawkeye007
My credit union quotes this morning, I started an application for the 10 year. They are backed up so not sure when I will hear back from them.
10 years 2.500%
15 years 2.625%
10 years 2.500%
15 years 2.625%
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