You are living on the recent past..
Since Jan 23, rates have gone straight up.
5.25% with 1 point was available a few weeks ago, for loans that were locked, and are getting signed and funded now.
IF YOU QUALIFY:
Conforming 30 YR fixed rates today are 6.00%+ at PAR, which means that you are going to have to pay a fee to get it.
15YR are 5.50% and 10YR ARM is 5.375% at the moment.
Could be higher or lower later today.
It’s funny to me that when rates were 5.25%, people wanted under 5%. Now that they are 6%, you are willing to jump at 5.25%…
IT DOESN’T EXIST today, without a buy-down cost.
Rates change everyday, and often intraday.
Many people with income and equity still don’t qualify for a loan today.
You can always buy a loan down to get your magic rates.
Almost everybody is getting fooled. If you haven’t been in the business, you probably don’t understand when you are getting the truth, regardless of what any friend or family member just closed at, but you act like you do.
