When you look at the graph of When you look at the graph of avg US mortgage rates on mortgagenewsdaily.com its a fairly steep line straight down all of this year. Precipitously straight, like, where is the bottom straight.
this article on the nuts and bolts of how the MBS industry works and the institutional pressures keeping rates from dropping below certain levels at certain times makes me think short term, a large rate drop is not in the cards. http://www.mortgagenewsdaily.com/mortgage_rates/blog/949814.aspx
not sure if it means anything looking forward, but it sounds like it describes the reality of rate ranges in the current market, anyway. On the toehr hand, the way thigns are may not describe how things will be if things have to change.
however, that graph of mortgage rates this years is So straight down im afraid to lock in a refi with points.
on the other hand, nothing goes in a straight line forever. but who likes to catch a falling knife. until i looked at that graph, it was unclear to me just what a big falling knife it was though in 2020.
i’m thinking now, either pay off the mortgage and be done with it, or wait till the 15 gets in the 1.25 to 1.5 rate with points, if ever, and just go for a max cash out refi and try my luck arbitraging that.
gzz
July 20, 2020 @
3:59 PM
The mortgage to treasury The mortgage to treasury spread is higher than normal and will probably decrease in a month or two.
I think the record low rates are letting companies keep the spread high while staying plenty busy. As the refi wave slows down, the spread should go back to normal.
gzz
October 28, 2020 @
3:21 PM
Hey I was right on the spread Hey I was right on the spread issue!
Look at the 1 year version. It ballooned to 2.7% in the spring, now back to a more normal ~2.0%.
People are getting 0 point 15 People are getting 0 point 15 years below 2.25 now.
10 year treasury rate is 0.577 now. Other than intraday March 8 when it hit 0.31 briefly, we’re basically tied with the all time low.
ybitz
July 24, 2020 @
10:22 AM
gzz wrote:People are getting [quote=gzz]People are getting 0 point 15 years below 2.25 now.
10 year treasury rate is 0.577 now. Other than intraday March 8 when it hit 0.31 briefly, we’re basically tied with the all time low.[/quote]
Which lender is offering 0 point 15 years below 2.25%? I need to get in on this refi action
scaredyclassic
July 24, 2020 @
10:49 AM
i tracking a 15 year 2.125% i tracking a 15 year 2.125% cash out refi on 500k total for about 10k in fees. if it’ll drop a half point to 1.625 at that price, i’ll do it.
gzz
October 29, 2020 @
12:45 PM
Zillow tells me that “Semper Zillow tells me that “Semper Mortgage” out of Rhode Island will do a 0-point 30 Year refi at 2.375%.
They also had a 1.99% 15 year.
I’ll see, they seem to be highly rated by zillow users, 1000+ reviews averaging 4.9/5.
scaredyclassic
April 5, 2022 @
2:19 PM
Sentiment changes. Sentiment changes.
oceanbreeze
April 5, 2022 @
10:34 PM
I locked in 1.99% 15-year I locked in 1.99% 15-year fixed last year.
sdrealtor
April 5, 2022 @
10:49 PM
oceanbreeze wrote:I locked in [quote=oceanbreeze]I locked in 1.99% 15-year fixed last year.[/quote]
Great job! I thought about doing the same but was already at 2.625 on a 30 with a pretty small balance. The flexibility to pay less if I want as someone self employed and the minimal savings just wasn’t worth it. Last year I was making a 10 year payment amount, now back to 30 yr the last few months but likely will go back to goosing the payment back around the 15 year level maybe higher. I like that flexibility
July 20, 2020 @ 8:07 AM
When you look at the graph of
When you look at the graph of avg US mortgage rates on mortgagenewsdaily.com its a fairly steep line straight down all of this year. Precipitously straight, like, where is the bottom straight.
http://www.mortgagenewsdaily.com/
this article on the nuts and bolts of how the MBS industry works and the institutional pressures keeping rates from dropping below certain levels at certain times makes me think short term, a large rate drop is not in the cards.
http://www.mortgagenewsdaily.com/mortgage_rates/blog/949814.aspx
not sure if it means anything looking forward, but it sounds like it describes the reality of rate ranges in the current market, anyway. On the toehr hand, the way thigns are may not describe how things will be if things have to change.
however, that graph of mortgage rates this years is So straight down im afraid to lock in a refi with points.
on the other hand, nothing goes in a straight line forever. but who likes to catch a falling knife. until i looked at that graph, it was unclear to me just what a big falling knife it was though in 2020.
i’m thinking now, either pay off the mortgage and be done with it, or wait till the 15 gets in the 1.25 to 1.5 rate with points, if ever, and just go for a max cash out refi and try my luck arbitraging that.
July 20, 2020 @ 3:59 PM
The mortgage to treasury
The mortgage to treasury spread is higher than normal and will probably decrease in a month or two.
I think the record low rates are letting companies keep the spread high while staying plenty busy. As the refi wave slows down, the spread should go back to normal.
October 28, 2020 @ 3:21 PM
Hey I was right on the spread
Hey I was right on the spread issue!
Look at the 1 year version. It ballooned to 2.7% in the spring, now back to a more normal ~2.0%.
https://fred.stlouisfed.org/graph/?g=x8vC
Could get lower still with low default rates and strong demand for safe assets that pay more than treasuries.
I feel much better about procrastinating on the multiple refis I need to do.
October 28, 2020 @ 3:24 PM
Also, rates hit record lows
Also, rates hit record lows on both the 15 and 30!
https://www.housingwire.com/articles/mortgage-rates-hit-another-record-low-this-week/
July 23, 2020 @ 3:06 PM
People are getting 0 point 15
People are getting 0 point 15 years below 2.25 now.
10 year treasury rate is 0.577 now. Other than intraday March 8 when it hit 0.31 briefly, we’re basically tied with the all time low.
July 24, 2020 @ 10:22 AM
gzz wrote:People are getting
[quote=gzz]People are getting 0 point 15 years below 2.25 now.
10 year treasury rate is 0.577 now. Other than intraday March 8 when it hit 0.31 briefly, we’re basically tied with the all time low.[/quote]
Which lender is offering 0 point 15 years below 2.25%? I need to get in on this refi action
July 24, 2020 @ 10:49 AM
i tracking a 15 year 2.125%
i tracking a 15 year 2.125% cash out refi on 500k total for about 10k in fees. if it’ll drop a half point to 1.625 at that price, i’ll do it.
October 29, 2020 @ 12:45 PM
Zillow tells me that “Semper
Zillow tells me that “Semper Mortgage” out of Rhode Island will do a 0-point 30 Year refi at 2.375%.
They also had a 1.99% 15 year.
I’ll see, they seem to be highly rated by zillow users, 1000+ reviews averaging 4.9/5.
April 5, 2022 @ 2:19 PM
Sentiment changes.
Sentiment changes.
April 5, 2022 @ 10:34 PM
I locked in 1.99% 15-year
I locked in 1.99% 15-year fixed last year.
April 5, 2022 @ 10:49 PM
oceanbreeze wrote:I locked in
[quote=oceanbreeze]I locked in 1.99% 15-year fixed last year.[/quote]
Great job! I thought about doing the same but was already at 2.625 on a 30 with a pretty small balance. The flexibility to pay less if I want as someone self employed and the minimal savings just wasn’t worth it. Last year I was making a 10 year payment amount, now back to 30 yr the last few months but likely will go back to goosing the payment back around the 15 year level maybe higher. I like that flexibility