4% 30 Year Mortgage

[sdrealtor]

FWIW after spiking last week rates have fallen back the last 2 days

[spdrun]

Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.

[scaredyclassic]

[quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]

Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.

[Anonymous]

[quote=sdrealtor]FWIW after spiking last week rates have fallen back the last 2 days[/quote]

Thank goodness, crisis averted.

[Anonymous]

[quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]

Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.

[sdrealtor]

[quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]

Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]

Clients closed at 3.875 yesterday. Another locked at 4% today. Still waiting for you to accept that bet, I’ve got the deed to my house ready to put up to your $1000. You continue making ignorant claims while I bring verified data making you look the fool.

Operators are standing by. Call to get yours too!

https://www.aimloan.com/home/84d5f76bbfa60cd

[sdrealtor]

[quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]

Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.[/quote]

I don’t lend money. I say no or I gift it

[scaredyclassic]

[quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]

Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.[/quote]

I don’t lend money. I say no or I gift it[/quote]

I meant the whole usurious system might be immoral. If so, borrowing and not repaying might be no more immoral than the whole foundation of our economy, at least if youre anti usury

[JPJones]

[quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]

Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]

What are your credentials? What is your source on that 4.68% number?

[sdrealtor]

[quote=deadzone][quote=sdrealtor] real estate is for pros[/quote]

Hah, funniest thing I’ve heard in a while. Any high school dropout can be a RE agent or mortgage broker, hardly a complex career field.

And those rates you quoted were BS. Show me evidence of an actual loan in SD that closed today with that rate? I dare you. Not happening.

Rates are currently 4.72% for 30year fixed. You can get this on any number of financial websites.[/quote]

Operators standing by…

[sdrealtor]

[quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor][quote=scaredyclassic][quote=sdrealtor]Planning to drink massive amounts of wine and bourbon I’ve collected the last 30 years, play golf and watch assets appreciate untouched before my death exit to a standing ovation! Enjoy me while I’m here!!![/quote]

Not bad, but there is a certain king lear beauty to becoming utterly penniless but also shafting creditors.[/quote]

Having spent a lot of time, effort and foregone much income the last 30 years in the name of living a life of integrity thats not something Im willing to give up in death[/quote]

Some religions believe lending with interest is immoral and lacks integrity. It is illegal, but arguments could be made it’s not immoral.[/quote]

I don’t lend money. I say no or I gift it[/quote]

I meant the whole usurious system might be immoral. If so, borrowing and not repaying might be no more immoral than the whole foundation of our economy, at least if youre anti usury[/quote]

The key is pay now, consume later. Friends ask me how can I justify drinking a bottle of wine that is now worth so much. My answer is I bought it years ago and don’t remember paying for it. Tonight we are drinking it, tonight it’s free

[sdrealtor]

[quote=JPJones][quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]

Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]

What are your credentials? What is your source on that 4.68% number?[/quote]

The answer is when he enters his financial credentials he gets rates for sub prime loans

[XBoxBoy]

[quote=JPJones][quote=deadzone][quote=spdrun]Average 30-yr was below 3% about 6 months ago. Now, it’s what, 4.25%? And the hikes are just beginning.[/quote]

Actually 4.68% today. But who’s counting? Apparently interest rates don’t impact the local housing market according to the “Professionals” on this board.[/quote]

What are your credentials? What is your source on that 4.68% number?[/quote]

I suspect that deadzone is quoting the rate listed on Mortgage News Daily. https://www.mortgagenewsdaily.com/

3/23/2020 the stated rate is 4.68%. Keep in mind that is an average for loans available yesterday. When sdrealtor quotes that a client just closed at such and such, that loan was started a month or more ago when rates were lower. And with points you can always lower your rate.

From my experience Mortgage news daily is well worth following if you want to see what rates are doing. The question/issue isn’t what rates are today, the question is how will these increased rates impact real estate. So far inventory numbers tell me the answer is not so much. Of course, maybe it’s too soon to tell.

[an]

[quote=XBoxBoy]
I suspect that deadzone is quoting the rate listed on Mortgage News Daily. https://www.mortgagenewsdaily.com/

3/23/2020 the stated rate is 4.68%. Keep in mind that is an average for loans available yesterday. When sdrealtor quotes that a client just closed at such and such, that loan was started a month or more ago when rates were lower. And with points you can always lower your rate.

From my experience Mortgage news daily is well worth following if you want to see what rates are doing. The question/issue isn’t what rates are today, the question is how will these increased rates impact real estate. So far inventory numbers tell me the answer is not so much. Of course, maybe it’s too soon to tell.[/quote]
It’s not just points that can change the rate, loan amount and credit score play a huge role as well. I just checked 30 years fixed if I would refi today and I’m seeing rates @ 4% with 0 point.
Go here and check for yourself: https://www.zillow.com/mortgage-rates/

Just like in real estate, you don’t buy an average house, you buy a house. Same goes for loan, you don’t get an average loan, you get a loan (based on your condition).

[Coronita]

I think the other angle is people just simply move into a different loan product for example 10/1 arms. This might seem like a bad product but is it? For example I took out a 30 year loan originally refinanced 30-year a few times and then refinance to a 15 year at the end of it I paid off my loan in 10 years. 10/1 probably would have been okay for me, might have been better

[Author]

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