That rate just doesn’t exist today for non owner, no points.
It was around there the last week of January…

If you plan to keep the property long term, you should want the lowest interest rate possible for the life of the loan, and be willing to pay a fee to get it.

There are still WAY too many people playing games with ARMS that may get caught with there pants down when their rate adjusts and not be able to qualify for a refi. They could end up with a 10% loan in a few years.

Historically, rates are ridiculously cheap.

Most people who have the pay option arm~ Negative Amortization loans have NO chance of refinancing when their payment adjusts. They were screwed in to the worst loan ever invented for the borrower.

The loan is poison and in most cases was sold by predators.
People are/will be losing their homes and the worst is yet to come. Many high end homes were financed with these loans, and are worth much less than the principal balance owed.

There may be a tsunami coming that few want to talk about because it isn’t here yet.