15 year conforming rates below 3% , no points

[Coronita]

Told you after I refinance, rates would head even lower…

Wow…. And to think, it was .375 higher just a month ago…

http://aerofcu.mortgagewebcenter.com/Default.asp?bhcp=1

30 Year Fixed Rate
Rate APR Points
3.625% 3.683% 0.000%
3.375% 3.585% 1.875%
15 Year Fixed Rate
Rate APR Points
2.875% 2.977% 0.000%
2.625% 2.999% 1.875%

[an]

I’m loving these dropping rates. I just closed on a refi earlier this month at 4.375% and I just locked again at 4% with $2500 in rebate. If rate keep on dropping, I’ll refi again in 3-4 months and keep on accumulating those rebates. So, what’s the chances we’ll see a 3% no cost loan for 30 year fixed? That would be killer to lock in at 3% for 30 years. I’m making that much from my 5 year CD.

[briansd1]

Good to see you guys benefiting from government intervention.

I bet the money you guys saved on your mortgages is more than any tax rate increase you’ve yet to experience (because there weren’t any).

[an]

[quote=briansd1]Good to see you guys benefiting from government intervention.

I bet the money you guys saved on your mortgages is more than any tax rate increase you’ve yet to experience (because there weren’t any).[/quote]
I never turn away from free money. So, I’m taking full benefit of it.

WRT your second statement, no, it’s less than if my income tax get raised by 3%. My loan is small, so the $ save isn’t that big, but every $ saved is a $ earned.

[AK]

[quote=briansd1]Good to see you guys benefiting from government intervention.
[/quote]

Ah yes indeed, we owe the current low rates to the Greek government. Papandreou has my vote any day!

[CBad]

[quote=AN]So, what’s the chances we’ll see a 3% no cost loan for 30 year fixed? That would be killer to lock in at 3% for 30 years. I’m making that much from my 5 year CD.[/quote]

Where are you getting a 5 yr. CD for that?

[an]

[quote=CBad][quote=AN]So, what’s the chances we’ll see a 3% no cost loan for 30 year fixed? That would be killer to lock in at 3% for 30 years. I’m making that much from my 5 year CD.[/quote]

Where are you getting a 5 yr. CD for that?[/quote]
I got it a year ago at Ally.

[Coronita]

AN, have you considering cashing out refinancing, taking the money and buying something else?

I wish I didn’t have this health thing to worry about, because I don’t need the extra stress of dealing with another rental. But at these low rates, why not?

Even if you just stick it in cash and wait, you’re not going to be bleeding that much. And somewhere down the line, that money can be used to probably yield better than 3%.

I mean, the only reason why I’m saying is because apparently not everyone can get these low rates. So not everyone is doing it….

For all these years, people have been b1tching about how responsible savers/w2’s get screwed. Well, it isn’t the case now is it?

i closed my recent refinance in 3 weeks. They didn’t even both to contact my W2 employer for complete verification.

My loan broker is pulling out her hair, because she had a bunch of clients that recently canceled their loans and resubmitted it because of a .25% drop over the past 2-3weeks.

Turns out my relative is the smarter person i know. She has been doing an interest only loan, and the rates for her have been slightly around 2% for 1.5million financing and stayed constant so far….Said relative locked into a CD at 3.25% a years ago with funds that can be used to pay it off whe needed. So all she’s doing is making monthly payment + slight extra principal payment. My hero…

[rhea_s]

I just completed my refi this week, missed 3.25% by a hair locked on 8/12/11. It was stressful process lot of things happened along the way, LO quit, LP would not respond and last bombshell was that oh your house is condo we need more paperwork – 1 day before loan was to close. It is detached condo. After the loan closed I was told that they would not be refinancing condo’s anymore, too much paperwork, difficult for them to sell the loan.

As much as I would like to refi again detached condo is becoming difficult. Don’t know at this point who I could refi with again!!

The forum has been useful and appreciate the postings.

[Aecetia]

Thanks for posting, flu.

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