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WeAreBR
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| Number of Posts: | 125 |
| Registered on: | 10/8/2020 |
| Online Status: | Not Online |
Recent Posts
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Correction down 19 bps since this morning
1
re: New Current Mortgage Rates Thread
Posted by WeAreBR on 3/1/21 at 9:55 am to Hiking Tiger
We started trending up again on Friday - Ideally this continues upwards and the demand for bonds increases
re: New Current Mortgage Rates Thread
Posted by WeAreBR on 2/26/21 at 4:36 pm to Hiking Tiger
PCE (Personal Consumption Expenditures) was up .3% in January, which was in line with expectations. Year over year index increased from 1.3% to 1.5%. As a result, mortgage bonds climbed back above 100.133- Hoping to see a follow through of improvement next week - Float for now
re: New Current Mortgage Rates Thread
Posted by WeAreBR on 2/25/21 at 5:03 pm to Hiking Tiger
Tomorrow will be a big day to see where bond prices go - They are currently high due to the fears of inflation. Tomorrow we get the feds favorite measure of inflation - PCE. Ideally it will cause the 10 year treasury to go to 160, which will give us a bounce. We are still lower than we were last at this time so hang in there, it might get better by the time your construction is done.
re: Interest rates question
Posted by WeAreBR on 2/22/21 at 10:16 am to ThreauxDown
It has taken a downturn the last few weeks since early January. Ideally, mortgage backed securities increase and then you will see a mortgage rate decrease. The economy is going to take awhile to come back, so as mentioned, these are still very low rates that will not make a big jump.
Rates went higher on Friday afternoon so this is higher than I have been seeing but I pulled 2.875% for the 30 and 25 year rate based on the info you gave me and the estimated credit score of 760
You can get a better rate. Reach out and I can give you some options.
re: Worth it to refi from 3.375 to 2.5?
Posted by WeAreBR on 2/15/21 at 10:31 am to TrueTiger07
Awhile back it was as low as 2.5% but market has gone up a bit since then- Closer in the 3s. It all depends if you have a second mortgage or HELOC
re: Concern level and timeline on Inflation, selling/buying house soon.
Posted by WeAreBR on 2/15/21 at 10:22 am to GREENHEAD22
Can't speak to inflation but for housing, this is different than the bubble in 2007-2009- more housing than families available. Currently there are more families needing homes than they are available. Rates are expected to increase but not by much.
re: How/where would you finance small acreage lot in Felicianas
Posted by WeAreBR on 2/10/21 at 10:08 am to Tiger In the Swamp
Doug Dupont at Bank of St. Francisville is super helpful and knowledgeable
Malcolm Young LINK
re: New Current Mortgage Rates Thread
Posted by WeAreBR on 2/5/21 at 10:49 am to GooseCreekMafia
It is 3.5% fixed interest only during construction phase. Rate are locked once the final appraisal update is received.
I am pulling 2.75% on Jumbo
re: New Current Mortgage Rates Thread
Posted by WeAreBR on 2/2/21 at 5:27 pm to JohnnyKilroy
Investments have been in the 2.875-3.124%
Many factors go into the rates and closing costs. We see rates as low as 2.5% - Depends on how much equity you have in the home. Rate/Term refinance will have a better interest rate than cash out refinance. And for closing costs, best advice is to see how much you have already paid in your current escrow with property taxes and Homeowners insurance.
5 year is possible- Best to go to a bank where it will be a portfolio product for them
I have called around for a client and no one does it on investment. We can do it if you own the land and it is a primary residence.
re: U.S. Homebuilders Confidence Slips in January
Posted by WeAreBR on 1/20/21 at 10:12 am to cadillacattack
Yes, builder confidence has gone down from record in November. Big things to also consider - there are more families being formed that are looking for housing than there is supply available. Additionally, supply is down due to Covid. Once supply (materials and workforce) return, we will see these construction prices go down.
Also, debt consolidation is happening everyday in the mortgage industry. If you have at least a good amount of equity in your house, many people are saving right by getting cash out and paying off credit cards or improving home value by renovating
Currently there are more families being formed than housing available. With that being said, it is being predicted that construction will continue to go up in the next 5 years. Many lenders do interest only payments during construction phase
Let me know if you need another rate to compare
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