Home › Forums › Closed Forums › Buying and Selling RE › 2.5% 0-point 30-year is here!
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treehugger.
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AuthorPosts
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July 6, 2020 at 10:24 PM #22946July 7, 2020 at 12:01 AM #818664
OC transplant
ParticipantGeez! That’s amazing, thanks for sharing. I just started refi process with another shop at 2.875% zero cost but may have to jump over to them or see if my lender will match.
July 7, 2020 at 10:01 AM #818667sdrealtor
ParticipantThank you and that is incredible.. Will see what happens as I just sent in app to refi to 20 years at 2.5%. If this works out there will be a very nice bottle of wine coming your way
July 7, 2020 at 10:57 AM #818672EVSDCA
ParticipantThank you. I just finished my refi to 20 years at 3.0% with a $2,300 cost. I may need to take another close look at what is offering now.
July 7, 2020 at 12:35 PM #818673gzz
ParticipantOC, I saw 2.75 zero cost/negative points on a few sites.
Rates for 20 and 25 seemed to be exactly the same as 30, and 15 barely any savings.
I’ve been looking on and off for a couple years, and I can’t think of ever seeing a savings for a 20 or a large savings for a 15.
July 7, 2020 at 12:46 PM #818674scaredyclassic
Participanti just paid down my mortgage, a lot, but im a little tempted to start over and cashout refi at 2.5 %.
I was quoted 1.5 points on that.
im too scared to act at 2.5% i think but at some point,not sure where; 2% ? 1.8%? id feel like a dope for not taking the money and trying to beat it investing.
if oil can go negative, maybe the 15 y. could head down to close to zero? crazy.
July 7, 2020 at 12:57 PM #818675
CoronitaParticipantI need to buy another house so I can take out a mortgage.
Wait, usually isn’t it I need to get a mortgage so I can buy a house?
Lol
July 7, 2020 at 1:25 PM #818677Participant[quote=gzz]OC, I saw 2.75 zero cost/negative points on a few sites.
Rates for 20 and 25 seemed to be exactly the same as 30, and 15 barely any savings.
I’ve been looking on and off for a couple years, and I can’t think of ever seeing a savings for a 20 or a large savings for a 15.[/quote]
Rates are so low that usually same on 20 vs 25 or 30 lately. Difference is more in the costs.
July 7, 2020 at 1:56 PM #818676Participantdupe
July 8, 2020 at 12:20 PM #818684ParticipantSDR: I didn’t see even a cost difference for going 20 instead of 30.
Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.
July 8, 2020 at 12:46 PM #818686Participant[quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.
Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]
Problem is i owe only 175k and its not enough for the lowest rate
July 8, 2020 at 12:49 PM #818687CoronitaParticipant[quote=scaredyclassic][quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.
Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]
Problem is i owe only 175k and its not enough for the lowest rate[/quote]
Well, like I said, normally one would need get a mortgage to pay for a new house.
But lately I’m thinking ….
I need to find a new house so I can get a brand new mortgage.
Lol, yeah I know that’s backwards…But interesting times we live in.
July 8, 2020 at 1:31 PM #818688Participant[quote=Coronita][quote=scaredyclassic][quote=gzz]SDR: I didn’t see even a cost difference for going 20 instead of 30.
Scaredy: avoid the big interest rate penalty for cash-out by doing a normal no cash-out refi, and then getting a HELOC if you actually need money.[/quote]
Problem is i owe only 175k and its not enough for the lowest rate[/quote]
Well, like I said, normally one would need get a mortgage to pay for a new house.
But lately I’m thinking ….
I need to find a new house so I can get a brand new mortgage.
Lol, yeah I know that’s backwards…But interesting times we live in.[/quote]
I really dont want any extra money. Its too painful to spend. But i want a 2.5 perc. Mortgage!
300k min to refi.
Money is annoying to ha e, not have, desire, avoid, slave for …its just a cruel mistress.
July 8, 2020 at 2:23 PM #818689CoronitaParticipantI got it scardey. Do a $300k cash out refinance. And then make a $125k principle payment right after your loan is funded….. j/k
July 8, 2020 at 8:28 PM #818695ParticipantWould it be crazy to just do the max cashout refi for 15 yeats and try to arbitrage a profit with a diversified portfolio. Hell make it 30. Thatll take me to almost 90.
Might be a little nervewracking but seems like a decent bet at 2 to 2.5 perc. 15 y mortgage.
Really weird—
5 y. arm rate HIGHER than 15 y fixed.
Does that mean the market think rates are headed down? You actually pay more for the chance to pay less, with a 10 year shorter term? Seems very very strange
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