Mortgage rates going down?

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Submitted by Coronita on February 4, 2016 - 3:43pm

Not that it matters to me, but it seems like mortgage rates are going down. I am seeing 15year fixed rates below 3%, which is lower than what it has been for the past few months.

Thoughts?

Submitted by The-Shoveler on February 4, 2016 - 4:15pm.

It's all about the USA dollar. everyone else is trying their best to devalue.

IMO we will see fixed 30 year rates in the low 3's sometime this year.

My Canadian colleagues are all pissed they did not take the transfer relocation offered three or so years ago.

Submitted by moneymaker on February 4, 2016 - 4:20pm.

I was wondering myself if the 30 year will continue it's downward trend? It was at an all time low OCT 31 of 2014 when the 30 year was at 2.25% according to yahoo charts.

Submitted by spdrun on February 4, 2016 - 10:00pm.

.

Submitted by an on February 5, 2016 - 11:05am.

Do you mean 15 years was at 2.25% or 30 at 3.25%?

I hope rates keep on dropping, but at the moment, it's still higher than my current rate.

Submitted by bibsoconner on February 5, 2016 - 11:26am.

Where are you seeing rates < 3? I see 3.143% APR at Chase. That seemed about the best I could easily see. I'd welcome recommendations as I'm currently have a 30 yr 4.125 APR I'm thinking of refinancing (to a 15 yr).

Cheers,
Dave

Submitted by moneymaker on February 5, 2016 - 11:57am.

AN wrote:
Do you mean 15 years was at 2.25% or 30 at 3.25%?

I hope rates keep on dropping, but at the moment, it's still higher than my current rate.

I was talking treasury rates which are linked to mortgages, I like to look at the 10 year treasury as far as comparisons because mortgages involves points and fees which makes them a little harder to compare. Obviously the 10 year treasury is less than the 30 year treasury.

Submitted by all on February 5, 2016 - 12:23pm.

bibsoconner wrote:
Where are you seeing rates < 3? I see 3.143% APR at Chase. That seemed about the best I could easily see. I'd welcome recommendations as I'm currently have a 30 yr 4.125 APR I'm thinking of refinancing (to a 15 yr).

Cheers,
Dave

Try Aimloan.

Submitted by FlyerInHi on February 5, 2016 - 12:35pm.

That's because money is flowing out of emerging markets and being parked in USD, despite our deficit, our total national debt, and the Fed's QEs. No dollar debasement in sight after 10 years. In fact, the makets are signaling that we ought to do more fiscal and monetary easing.

Submitted by The-Shoveler on February 5, 2016 - 1:02pm.

"deficit, our total national debt, and the Fed's QEs"

Proof none of this matters LOL.

Probably only you me and Trump understand this.

What matters if having FU resources and being the only game in town if you get into trouble with your neighbors.

Who you going to call!!!

Submitted by FlyerInHi on February 5, 2016 - 1:40pm.

The-Shoveler wrote:
"deficit, our total national debt, and the Fed's QEs"

Proof none of this matters LOL.

Probably only you me and Trump understand this.

What matters if having FU resources and being the only game in town if you get into trouble with your neighbors.

Who you going to call!!!

Conceptually, dollars are just made up, unlimited resources that we control and adjust to our needs. There is no need to save as if, if we don't, we will run out. We can always make more.

Instead we should be saving natural resources for future use. When Saudi Arabia runs out of oil, that's it. We, on the other hand, can always print more dollars.

We just need to make sure we remain the largest economy on earth. We need more immigration, lest China surpasses us.

Submitted by moneymaker on February 11, 2016 - 6:11am.

30 year treasury at 2.68% now, what will it be at the end of the day?

Submitted by moneymaker on February 11, 2016 - 6:17am.

2.42%

Submitted by Coronita on February 11, 2016 - 8:14am.

bibsoconner wrote:
Where are you seeing rates < 3? I see 3.143% APR at Chase. That seemed about the best I could easily see. I'd welcome recommendations as I'm currently have a 30 yr 4.125 APR I'm thinking of refinancing (to a 15 yr).

Cheers,
Dave

Provident Funding

https://www.provident.com/

Submitted by Geedup on February 12, 2016 - 10:33pm.

I am also a loan officer. Im having my broker refinance my own loan . I had a 4.875% from 7 months ago . Going to a 3.625% and getting $-1,500 back in closing costs plus our usual 2% lender comp :) yesterday the rate was $1,600 better if I would have locked . I locked 2 days ago. Lender rate sheets come out every morning
usually (in the last two days it's been volatile so 2-3 reprices in a day). These rates are the lowest we seen since 2012. The best indicator of our business is the 10
Year treasure rate . It goes up a few ticks in a day then the interest rate for mortgages adjusts the next day. Each rate has a specific lender credit that can go up or down from
$500 to $1500 a day until locked .

Submitted by NotCranky on April 1, 2016 - 9:43am.

I missed Feb mortgage lows but am watching now. I could currently get 3.8ish at my credit union for 2k in cost on a refi. That's not enough. I don't want to go with lending tree or something like that because of an experience with Aim loan where they refused my application after the appraisal because I have a 2 on 1. I guess I am wary of these kinds of originators.

I don't know anything about this guy , maybe he is a joke to you serious financial types, but he seems to like up with FLU's prediction for rates dropping this year.

http://www.cnbc.com/2016/03/31/mark-gran...

Submitted by FlyerInHi on April 1, 2016 - 9:33am.

I remember back in 2009, gold bugs predicted that the stimulus could cause Dollar debasement, skyrocketing interest rates, stagflation, a double dip recession, and dropping house prices.

Submitted by spdrun on April 1, 2016 - 10:30am.

We have stagflation -- the inflation is just in specific asset prices.

Submitted by The-Shoveler on April 1, 2016 - 10:41am.

It is pretty clear that wages are rising, the rise in minimum wage has not killed jobs and is in fact increasing spending.

All in all not bad IMO.

Submitted by spdrun on April 1, 2016 - 10:47am.

That's inflationary crap. Min wage should keep up with inflation, not drive it.

Growth is fundamentally environmentally destructive -- recessions and depressions tend to be good for the environment.

Glad the NY min wage law has a clause allowing the governor to abrogate it in case of recession.

Submitted by The-Shoveler on April 1, 2016 - 11:41am.

First you have to catch up.

Submitted by FlyerInHi on April 1, 2016 - 12:14pm.

The-Shoveler wrote:
It is pretty clear that wages are rising, the rise in minimum wage has not killed jobs and is in fact increasing spending.

All in all not bad IMO.

that's about right shoveler.

millennials and the bottom income are what is driving the economy. Want more economic growth? put money in their pockets.

http://www.msn.com/en-us/money/markets/h...

Can you explain Trump gets it? He's not supporting minimum wage increases.

Submitted by The-Shoveler on April 1, 2016 - 1:19pm.

The only thing that I was referring to is that Trump understands that the national debt is a problem that can be solved without undue pain.

Submitted by NotCranky on April 7, 2016 - 8:46am.
Submitted by moneymaker on July 8, 2016 - 11:27am.

30 year treasury at 2.11% new record low. Explains why I'm refi'ing, never thought I would again after last time, but it makes sense to do it.

Submitted by Escoguy on July 8, 2016 - 11:56pm.

moneymaker,

what rate did you get? with whom?

I got 3.1% on 417K fixed 30 with First republic,

must say still a little in shock

Submitted by moneymaker on July 9, 2016 - 1:51pm.

I'm getting 2.625% (APR 2.699%) on a 15 year sub 417K money out loan. Going to use the money to pay off HELOC (used to put in the solar) which is currently at 4.75%. Appraisal is $495 with fees of around $1000. Not going to say who just yet as I have read some bad reviews online after starting the process, so far it is going well, have turned in documentation and am meeting with appraiser this afternoon. PS- Did sell my silver bullion yesterday when spot was above $20, still holding onto the gold though.

Submitted by Coronita on July 9, 2016 - 1:58pm.

moneymaker wrote:
I'm getting 2.625% (APR 2.699%) on a 15 year sub 417K money out loan. Going to use the money to pay off HELOC (used to put in the solar) which is currently at 4.75%. Appraisal is $495 with fees of around $1000. Not going to say who just yet as I have read some bad reviews online after starting the process, so far it is going well, have turned in documentation and am meeting with appraiser this afternoon. PS- Did sell my silver bullion yesterday when spot was above $20, still holding onto the gold though.

On 15year, 2.5% was the lowest I got with no out of pocket cost back awhile ago. That was the absolutely lowest I was able to get. So if you're getting about 2.699%, on a cash out refi.

My loan came from provident.

Submitted by moneymaker on July 11, 2016 - 9:11pm.

Appraisal is done, took 20 minutes, I'm not to excited about what it comes in at because according to Zillow we are right around 50% so i figure got at least a 10% cushion.

Appraisal came in at twice loan amount, is there a break for being slightly under 50% as opposed to being slightly over? HLS?

Submitted by HLS on July 12, 2016 - 12:02am.

moneymaker wrote:

Appraisal came in at twice loan amount, is there a break for being slightly under 50% as opposed to being slightly over? HLS?

If you're dealing with a conventional Fannie/Freddie loan,
I don't think you will see any difference in pricing.

If there is better pricing and you are using a broker, you WILL definitely get the credit.
If you are using a bank or direct lender you may or may not get the credit.

If you run into any trouble, let me know.

Submitted by The-Shoveler on March 2, 2017 - 3:22pm.

Delete wrong thread

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