[quote=Coronita][quote=millennial][quote=scaredyclassic][quote=Coronita][quote=millennial]Just closed on a 30 year fixed for investor. Requirement was 25% down and rate was 3.875%. Rates for my personal residence was quoted at 2.875% 30 year fixed.[/quote]
Wow.[/quote]
Hmm. Im not seeing no cost loans in that ballpark. More like 15 y 3.125 no cost.
Even tho rates are at all time low, i did better w refi in 2013.
Why????[/quote]
The rate on the investor property I locked in beginning of May not sure where they are at now. Regarding my home mortgage the rate was 3.125 but was offered a 25bps discount for bringing in $500k in liquidity. Since this was done through my advisor they are likely offsetting yield with investment returns.
Heard rates are not following the 10 year because of a couple reasons. High refinancing activity (which leads to less competition among providers) coupled with low interest in mortgage backed bonds. I expect medium term as the 10 year rises mortgage rates should remain static.[/quote]
Wait. So you got a loan through your advisor, who offered you a discount? Oh do tell. Very curious how this works.[/quote]
My advisor had me work with the in-house mortgage lender who offered a better rate if I brought in more money. If you have one you should see if they have a program comparable; if not I would contact places like First Republic and Merrill Lynch who have a mortgage arm that can assist you. I imagine they can leverage pricing based on relationship rather than just the transaction.
