I’ve been shocked by how low rates are. A friend in the midwest just refied their house from a 15 year loan (5 years in) to a 10 year… 3.875%. A coworker who relocated here a year ago and has been renting is in escrow… his rate for a 15 year loan is 3.75%.

Makes me feel like a sucker for refi’ing into 4.25% a year ago.

Not sure how much it will affect purchases – but it will definitely cause a surge in refi’s.

I’ve been shocked by how low rates are. A friend in the midwest just refied their house from a 15 year loan (5 years in) to a 10 year… 3.875%. A coworker who relocated here a year ago and has been renting is in escrow… his rate for a 15 year loan is 3.75%.

Makes me feel like a sucker for refi’ing into 4.25% a year ago.

Not sure how much it will affect purchases – but it will definitely cause a surge in refi’s.

I’ve been shocked by how low rates are. A friend in the midwest just refied their house from a 15 year loan (5 years in) to a 10 year… 3.875%. A coworker who relocated here a year ago and has been renting is in escrow… his rate for a 15 year loan is 3.75%.

Makes me feel like a sucker for refi’ing into 4.25% a year ago.

Not sure how much it will affect purchases – but it will definitely cause a surge in refi’s.

what bank is giving 15 year 3.75% and is that for a jumbo?

what bank is giving 15 year 3.75% and is that for a jumbo?

For the local guy (coworker) with the 3.75

Not a jumbo. I think he said it was through Wells Fargo – it could have been SDCCU.

He’s got great credit, good income (he’s a couple pay grades above me) and a big down payment – enough that it was conventional (not even conforming jumbo).

My other friend is in Missouri – it’s definitely not a jumbo since they owe well under $100k on their 5 acres. They’re in farm country and prices are a lot less. I have no idea who they financed with. She’s been grappling with whether to refi for 2 years, and whether to pull cash out to do some badly needed updating, or to sell and get a bigger house. The rates were low enough they pulled 20k out, kept the same payoff date (refi’ing their 15 year loan to a 10 year… since they’re 5 years in). So they’ll have the money to do repairs/updating and keep their payments the same.

For the local guy (coworker) with the 3.75

Not a jumbo. I think he said it was through Wells Fargo – it could have been SDCCU.

He’s got great credit, good income (he’s a couple pay grades above me) and a big down payment – enough that it was conventional (not even conforming jumbo).

My other friend is in Missouri – it’s definitely not a jumbo since they owe well under $100k on their 5 acres. They’re in farm country and prices are a lot less. I have no idea who they financed with. She’s been grappling with whether to refi for 2 years, and whether to pull cash out to do some badly needed updating, or to sell and get a bigger house. The rates were low enough they pulled 20k out, kept the same payoff date (refi’ing their 15 year loan to a 10 year… since they’re 5 years in). So they’ll have the money to do repairs/updating and keep their payments the same.