Mortgage Rates (3 Viewers)

[joey]

sitting on a fixed 30 yr loan with 22 yrs left $465,000 at 4.525%....thought it would be a no brainer to refi but looks like im in no mans land....

20 yr refi keeps me about the same payments and only shaves 2 yrs off....not worth the hassle/fees

15 yr refi chops 7 yrs off the loan which is nice but monthly payment goes up over $500 which is too high.... 

I dont want to go back to a 30 yr loan even if it saves me some each month... 

.I was hoping to be able to do something but looks like im stuck.

I’m in a similar spot but with 22 years remaining with a slightly higher balance (low $500k) but luckily have a nicer rate at 3.875%. 

I only did a cursory search for 15 year rates and came to the same conclusion that it's not worth it for me to refi. Just gonna stick It out, pay a hair more each month, then  just sell the place once the youngest goes away to college (in 8 years), cash out, and down-size. 

 

[shadyridr]

Any big changes with today's rate cuts? Should I be pressing my mortgage company and this weekend my credit union?

My mortgage guy told me the Fed rate cut has no impact on mortgage rates. As a matter of fact, rates have come up recently.

 

[Buckna]

Any big changes with today's rate cuts? Should I be pressing my mortgage company and this weekend my credit union?

Market was already pricing it in, Fed was kind of wishing washy on their future outlook so rates didn’t do much. Most were hoping that they’d be more committed to future cuts, but economic signs have been mixed. Some economic data is predicting a slow down or recession, other economic data is saying things are still great. So same as it ever was...

 

[skycriesmary]

Yeah, I just refinanced 4 months ago for a 30 year at 3.875. I contacted my guy about a month ago when rates had plummeted, I could have got a 30 year for about 3.375, but due to previous loan agreement, I was locked in for a minimum of 4 months. Now, the best I can get with no costs is 3.625. It would save me 20K+ over the life of the loan, but I'm holding out for 3.50 or better. Not sure if we'll see it. 

 

[Courtjester]

We just called today to start a cash out refi. We have 24 years left on a 30 and are looking to pull a little money and cut it down to a 15. The mortgage guy told us he couldn't give us solid prelim numbers today because the market was all over the place.  Ughhh....I hope we didn't miss the boat on the good rates. 

 

[ffweasel]

Closed on our new home on Wednesday. Went with LenderFi as well. I’m not sure if it was the same guy recommended by @skycriesmary as I just contacted them directly. 30 yrs @ 3.375, no points, & even a small credit. 

 

[Gianni Verscotchie]

Closed on our new home on Wednesday. Went with LenderFi as well. I’m not sure if it was the same guy recommended by @skycriesmary as I just contacted them directly. 30 yrs @ 3.375, no points, & even a small credit. 

I closed mine on Wednesday also. Same deal.

I'll send you a PM in 30 years when we pay these things off and we can grab a beer.

 

[urbanhack]

for you or anyone, is it easy or common to get PMI wiped based on a re-appraisal?  I thought the terms of my mortgage were that it was based strictly on the original loan amount, but maybe I was misunderstanding or misremembering.

mine got reduced, but not eliminated.  

 

[Tool]

sitting on a fixed 30 yr loan with 22 yrs left $465,000 at 4.525%....thought it would be a no brainer to refi but looks like im in no mans land....

20 yr refi keeps me about the same payments and only shaves 2 yrs off....not worth the hassle/fees

15 yr refi chops 7 yrs off the loan which is nice but monthly payment goes up over $500 which is too high.... 

I dont want to go back to a 30 yr loan even if it saves me some each month... 

.I was hoping to be able to do something but looks like im stuck.

You sure that 20 year isn't worth it? If i'm following correctly you make the same payment but end 2 years early. 2 years of mortgage payments could be a decent chunk of change.

 

[Kiddnets]

You sure that 20 year isn't worth it? If i'm following correctly you make the same payment but end 2 years early. 2 years of mortgage payments could be a decent chunk of change.

after fees and costs it would probably be closer to 1.5 yrs - just not worth the hassle right now....also gambling that rates drop a little more and perhaps the 15 yr difference gets closer.....

 

[Tool]

after fees and costs it would probably be closer to 1.5 yrs - just not worth the hassle right now....also gambling that rates drop a little more and perhaps the 15 yr difference gets closer.....

Well have no idea what your monthly payment is but if it were me I’d take the savings.

 

[-OZ-]

after fees and costs it would probably be closer to 1.5 yrs - just not worth the hassle right now....also gambling that rates drop a little more and perhaps the 15 yr difference gets closer.....

A lot of people are doing the same

I think I jump if there's a 15 under 3 without points. Could happen in the near future

 

[Zegras11]

A lot of people are doing the same

I think I jump if there's a 15 under 3 without points. Could happen in the near future

So Friday I signed a 3.125% 15 yr refi.   If it dropped to 2.875%, I would save $34/mo.    That's not worth waiting for IMO.   And rates have gone back up since I locked the 3.125.

 

[-OZ-]

So Friday I signed a 3.125% 15 yr refi.   If it dropped to 2.875%, I would save $34/mo.    That's not worth waiting for IMO.   And rates have gone back up since I locked the 3.125.

Yeah, but I'm at 3.25 for a 30 year right now. 3.125 @ 15 seems less than an ideal swap.  

 

[culdeus]

Yeah, but I'm at 3.25 for a 30 year right now. 3.125 @ 15 seems less than an ideal swap.  

Yeah. I figure you can just make two payments and whatever your fees were and do better.  

 

[skycriesmary]

Yeah, I just refinanced 4 months ago for a 30 year at 3.875. I contacted my guy about a month ago when rates had plummeted, I could have got a 30 year for about 3.375, but due to previous loan agreement, I was locked in for a minimum of 4 months. Now, the best I can get with no costs is 3.625. It would save me 20K+ over the life of the loan, but I'm holding out for 3.50 or better. Not sure if we'll see it. 

Well, he contacted me today and had a 3.5 rate locked with zero costs. I couldn't refuse. Sure, it might go a wee bit lower, but 3/8 lower and no costs? I'm in. It saves 29k over the life of the loan.

 

[Wooderson]

Just got quoted 3.375% 30 year loan. 

I have until December 2nd.  Leaning towards locking in. 

 

[gianmarco]

Just got quoted 3.375% 30 year loan. 

I have until December 2nd.  Leaning towards locking in. 

I'd be all over that. 

 

[Buckna]

Just got quoted 3.375% 30 year loan. 

I have until December 2nd.  Leaning towards locking in. 

Purchase? Refinance? cash-out refinance?

 

[Wooderson]

Purchase? Refinance? cash-out refinance?

Purchase. 

 

[GoBirds]

Just got quoted 3.375% 30 year loan. 

I have until December 2nd.  Leaning towards locking in. 

Do it, do it. 

 

[DA RAIDERS]

Just got quoted 3.375% 30 year loan. 

I have until December 2nd.  Leaning towards locking in. 

i'll be calling tomorrow  refi

 

[Buckna]

Purchase. 

 

[skol asylum]

I see a 15 down to 2.875%. 

 

[Wooderson]

Good enough for me. I’m calling tomorrow morning and locking  it in. 

 

[The Z Machine]

I see a 15 down to 2.875%. 

Wow. I might have to actually get off my butt and do something...

 

[shadyridr]

3.375 with no points? Did rates drop that low?

 

[-OZ-]

I see a 15 down to 2.875%. 

That's as tempted as I've been to refi. 

 

[shadyridr]

We bought in May. 15 year fixed at 3.25.  Refinanced out last home in 2011 and never thought we'd get close to that again. 

We also bought in May. Currently have a 4.375 30 yr rate

 

[culdeus]

I see a 15 down to 2.875%. 

I mean when you put it that way.

 

[ffweasel]

3.375 with no points? Did rates drop that low?

I closed on a house Sept.18th @3.375 no points and even got a small credit. I locked that rate 3-4 weeks before closing. I noticed rates had gone up, but apparently dropped again. 

 

[ghostguy123]

I see a 15 down to 2.875%. 

Any chance they let me do this when I only owe 66k?

 

[NutterButter]

Now we're cooking with gas.     Im hammering that very soon.   

 

[Courtjester]

Locked a 25 year 3.5% refi/cash out. Last year sucked for us--we took a big step back financially as the hail storm wiped out all our cars and our house.  We went from zero car payments to two car payments and co-signed on our daughter's car, plus a fair chunk of CC debt. This cash out is going to pay off our CC debt and is only going to up our payment $100 while saving us a boatload monthly. We were 6 years into a 30 year at 3.75%--so this isn't a huge difference, but I want to retire here in 3 years and the CC debt wasn't going to be gone by then if we stayed the course--especially paying for one daughter in college and another one going in two years.  

 

[Senor Schmutzig]

Currently have $469k at 4.625% for 30 years. Finalizing loan application today so I should have some quotes shortly. This was a construction loan that flipped to a mortgage at the beginning of the year. Finally have the CO so I can refinance....

 

[Wooderson]

3.375 with no points? Did rates drop that low?

Correct no points.

 

[Wooderson]

3.375 with no points? Did rates drop that low?

double post

 

[Foosball God]

I just got a 15 yr fixed at 3% with no closing costs, was at 3.7 on a 30 year with about 24 left to go.  Monthly went up a few hundred dollars but worth to dump off 9 years in my case.

 

[rascal]

I just got a 15 yr fixed at 3% with no closing costs, was at 3.7 on a 30 year with about 24 left to go.  Monthly went up a few hundred dollars but worth to dump off 9 years in my case.

With who?  Lowest I've seen is 3.6.

 

[rascal]

I see a 15 down to 2.875%. 

Where?

 

[skol asylum]

Where?

http://www.hartwest.com/mortgage-rates.asp?show=true&type=refinance&amt=300000&state=AZ&mType=fixed#datafeed

I used them for my mortgage in 2010 and again in 2013 for a refi. They sold immediately to Provident Funding. They only operate in a few states. AZ, NM, OR, UT, CO, and WA.

 

[DA RAIDERS]

@skycriesmary  called your dude.      he better buy you a nice xmas gift.  he started laughing, when i told him i was from the football website.  he's getting back to me later with some numbers.  i'll let you all know what he quotes me.

 

[Foosball God]

With who?  Lowest I've seen is 3.6.

LenderFi.  Then they immediately sold my note to Wells Fargo.

 

[Zegras11]

@skycriesmary  called your dude.      he better buy you a nice xmas gift.  he started laughing, when i told him i was from the football website.  he's getting back to me later with some numbers.  i'll let you all know what he quotes me.

He should, but it's against the law for lenders to give gifts over a nominal amount.  

 

[skycriesmary]

@skycriesmary  called your dude.      he better buy you a nice xmas gift.  he started laughing, when i told him i was from the football website.  he's getting back to me later with some numbers.  i'll let you all know what he quotes me.

Funny stuff. I hope it works out for you, he's come through for a lot of people I've referred to him. In all seriousness, I might check out working for Lenderfi, as the company I work for is likely going belly up.

 

[rascal]

@skycriesmary  called your dude.      he better buy you a nice xmas gift.  he started laughing, when i told him i was from the football website.  he's getting back to me later with some numbers.  i'll let you all know what he quotes me.

Can i get this information?

 

[Dragons]

Funny stuff. I hope it works out for you, he's come through for a lot of people I've referred to him. In all seriousness, I might check out working for Lenderfi, as the company I work for is likely going belly up.

I'll take the info, too. Getting ready to check refi options.

 

[Galileo]

Just made my last mortgage payment yesterday!!!  I am free and clear!

 

[DA RAIDERS]

zero cost mortgage, 30 year @ 3.75%.  cash out to pay off 2 cars, lowers my combined payment by $661

same loan at 15 years @ 3.5%.  payment goes up $10, but it knocks 6 years off my loan.  

he can get to 3%, but it costs $$

 

[DA RAIDERS]

I just got a 15 yr fixed at 3% with no closing costs, was at 3.7 on a 30 year with about 24 left to go.  Monthly went up a few hundred dollars but worth to dump off 9 years in my case.

i got a different quote from lenderfi  3.5  15 year, no cost.