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Started By
Message
1
Posted on 10/10/24 at 12:00 pm to SDVTiger
quote:i haven't tried renegotiating since the rates crept up.
You didnt ask your loan guy for borrower paid pricing?
Posted on 10/10/24 at 5:13 pm to CAD703X
You wont be doing that
Tell him you want the par rate borrower paid and you are ok with a 3500 flat fee
See what he says you will be around 5.75 today
If you had done this prior you would have got your 5.25 or lower
Tell him you want the par rate borrower paid and you are ok with a 3500 flat fee
See what he says you will be around 5.75 today
If you had done this prior you would have got your 5.25 or lower
Posted on 10/10/24 at 5:17 pm to SDVTiger
eta nevermind i just looked up 'par rate'
so i can just ask this? will it piss them off or is it just something that people dont know to ask about?
so i can just ask this? will it piss them off or is it just something that people dont know to ask about?
This post was edited on 10/10/24 at 5:21 pm
Posted on 10/10/24 at 6:11 pm to CAD703X
quote:
so i can just ask this? will it piss them off or is it just something that people dont know to ask about?
No one would ever know about it unless it was told
This is like asking if the car finance guy would be pissed if you said my price is x
No they want a deal just see what they say and what they quote im.curious
But wait till we get the PPI tomorrow and we just read that BLS of the 240k jobs 231k were 16-19yr olds
If reported accurate UE would have gone to 4.4% and things woulda gone bonkers for you in a good way
Posted on 10/10/24 at 8:40 pm to SDVTiger
quote:
SDVTiger
Keep fighting your fight.
Posted on 10/11/24 at 6:42 am to slackster
What does that mean?
Posted on 10/11/24 at 6:46 am to SDVTiger
It means you think rates should be going down so you only search for data that supports that hypothesis.
Posted on 10/11/24 at 7:00 am to slackster
quote:
It means you think rates should be going down so you only search for data that supports that hypothesis.
Rates arent going down at the moment. They are up like always after a first cut
Posted on 10/11/24 at 11:58 am to SDVTiger
quote:WTF?!?
They are up like always after a first cut
Rates are down since the Fed cut the FF rate by 50 BP on September 18.
Posted on 10/11/24 at 12:00 pm to LSURussian
quote:
Rates are down since the Fed cut the FF rate by 50 BP on September 18.
Mortgage Rates are down since? Thats your position
Posted on 10/11/24 at 12:06 pm to SDVTiger
quote:
SDVTiger
I’ve been lurking here. How does someone know they’re getting the best deal when it comes to loan fees? I’m in the market right now also and have no idea how to know if fees being charged on these example worksheets from lenders are appropriately priced or not. And then also it would be good to know which fees are bogus.
Posted on 10/11/24 at 12:18 pm to SDVTiger
Interest rates in general, including treasuries, are down since the Fed cut rates on 9/18. That is my position.
Your silly use of emoticons reveals your insecurities.
Your silly use of emoticons reveals your insecurities.
Posted on 10/11/24 at 12:36 pm to LSURussian
quote:
Interest rates in general, including treasuries, are down since the Fed cut rates on 9/18. That is my position.
The 10yr went from 3.5 to now at 4 since the cut. But yeah they are down
In this thread we are discussing mortgage rates specifically which are up since the cut
Posted on 10/11/24 at 12:47 pm to dualed
quote:
here. How does someone know they’re getting the best deal when it comes to loan fees?
You can never really know unless you shop around but if you do make sure they are soft checking your score so you dont get the hard inquiry
But let me know your loan amount and i can give a general idea. But each state is different. Like CA cause of the taxes/impound account most loan costs are around 10k
5k being taxes, pre paid interest
quote:
have no idea how to know if fees being charged on these example worksheets from lenders are appropriately priced or not. And then also it would be good to know which fees are bogus.
Most of the bogus fees are with title/escrow if your state does it that way. So you can use anyone you want to get the best price
Standard fees:
Lender fee
Processing fee
Broker discount points are standard if you are buying down
Title/escrow
Taxes(impound account) or choose to waive then some lenders allow you to apply the taxes/insurance to the payment after 60days so you can avoid those costs but have the taxes/insurance back in the payment
There is also a difference between lender paid and borrower paid which your loan guy can explain
Posted on 10/11/24 at 12:52 pm to SDVTiger
quote:That's because the inflation and employment reports came in hotter than expected this week. It has no connection to the Fed cutting the FF rate by 50 BP in September.
The 10yr went from 3.5 to now at 4 since the cut. But yeah they are down
And it's certainly no correlation that mortgage rates go up "every time" right after the Fed cuts rates.
Any increase in longer term Treasuries is because the consensus is the Fed might not reduce rates going forward as much as previously thought before those economic/inflation reports were released.
I know I bought a $100,000 t-bill on September 10 maturing on 10/22 with a YTM of 5.065% and bought another $200,000 t-bill on 9/19 (the day after the Fed cut rates) maturing on 10/24 and the best YTM I could get was 4.748%
This post was edited on 10/11/24 at 12:57 pm
Posted on 10/11/24 at 1:00 pm to LSURussian
quote:
That's because the inflation and employment reports came in hotter than expected this week
So then yields are up since the cut
Thank you
Posted on 10/11/24 at 1:02 pm to SDVTiger
quote:But not because of the cut as you implied.
So then yields are up since the cut
Posted on 10/11/24 at 1:04 pm to LSURussian
quote:
But not because of the cut as you implied.
I never implied anything
When the Fed cuts history shows mortgage rates rise then fall
Posted on 10/11/24 at 1:14 pm to SDVTiger
quote:Then what did you mean by posting the following?:
I never implied anything
quote:
Rates arent going down at the moment. They are up like always after a first cut.
So why did you advise another poster in this thread on 9/16 to wait two days, until after the day the Fed was scheduled to announce a rate reduction, before getting a mortgage loan?
If mortgage rates always rise right after a Fed rate cut, why would you advise him to wait for two days to get a mortgage loan?
You can't have it both ways. Maybe you don't know what rates are going to do in spite of your self proclaimed "expertise."
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