re: Refinance rates #2

Dumb question... The guy that has done all of my mortgage loans is near MIA the last couple weeks and cant get feedback on rates timely. I would like to get a 15 year refi somewhere in the 2.75 range if or when its available.

Dumb question, can I have applications open with multiple people to lock the first one that can get me where I want to be?

I owe about 50 % of house value and credit score is right around 800

I had 2.625 on a 15 year no points last week- I applied but didn’t lock, thinking rates would drop.

I’ve now been approved and can lock at 2.75.

What say the MTB ?

I’m tempted to just do it.

I would wait it out. Once the backlog is cleared they will be looking for more business and rates will drop.

This economy is destroyed and the fed won’t be raising the rate anytime soon.

I got quoted at 2.75% for a 15 year a couple days ago before I had an application in and now that my application is in, the loan officer told me rates have gone back up

I guess I'll play the waiting game and hope I can get an offer at 2.75% or better.

I'm licensed in both AL & FL 25Yrs in this industry. Work for a national mortgage banker - FNMA/FMHL seller servicer -FHA, USDA & VA direct endorsed lender

If I can help anyone let me know and I will contact you.

Rates have settled down and we're not seeing the huge swings. 30yr Range from 3.25% to 3.625% depending on scenario and points. You will more than likely pay some discount due to current secondary market pricing models.

We are locking rates for 45 days on all transactions-can lock at application.

Purchases we can still close in 30 days or less as long as 3rd party vendors (appraisal and title ) can accommodate 5 to 9

Currently all Non Agency NON QM products are on hold - i.e. Jumbo Products