Current Interest rate Environment

[Raybyrnes]

Most recent information I recieved from a family member who refinanced is 5.25 on 30 year fixed/ conforming loan limit. Paid 1 point for the loan and the broker rebate him back .70. So when you account for the tax deduction of the point it is essentially a 5.25% 30 year fixed at no cost.

That seems like awfully cheap money.

[donaldduckmoore]

Where did the family member do the refi? Mind sharing the info?

[92024]

dido

[92024]

dido

[92024]

dido

[92024]

dido

[92024]

dido

[Raybyrnes]

It was through a Wells Fargo broker that works in Conjunction with Coldwell Banker.

This was done within the last month.

[Raybyrnes]

It was through a Wells Fargo broker that works in Conjunction with Coldwell Banker.

This was done within the last month.

[Raybyrnes]

It was through a Wells Fargo broker that works in Conjunction with Coldwell Banker.

This was done within the last month.

[Raybyrnes]

It was through a Wells Fargo broker that works in Conjunction with Coldwell Banker.

This was done within the last month.

[Raybyrnes]

It was through a Wells Fargo broker that works in Conjunction with Coldwell Banker.

This was done within the last month.

[donaldduckmoore]

Where did the family member do the refi? Mind sharing the info?

[donaldduckmoore]

Where did the family member do the refi? Mind sharing the info?

[donaldduckmoore]

Where did the family member do the refi? Mind sharing the info?

[donaldduckmoore]

Where did the family member do the refi? Mind sharing the info?

[SD Realtor]

Hard to see that loan being available at the current 10 year rate.

SD Realtor

[an]

Yesterday, the lowest I’ve seen on a 30 year rate was 5.375% w/ almost 4 points. Today, it’s 5.625% with 3.6 points. So yeah, I love to know where you can get 5.25% today.

[gdcox]

Graham

Inflation worries hit Treasuries
Tony Crescenzi, chief bond market strategist, Miller Tabak

The yield on the 10-year Treasury note, which climbed 12 basis points, to 3.89%, threatens the nascent strength in mortgage refinancing activity. The root of the rate rise is inflation after China reported its consumer price index soared 7.1% year-over-year in January, the most it has risen since September, 1996. Adding to inflation worries is today’s surge to a new record high for the CRB index and a surge in industrial materials prices. The dollar’s drop is probably playing a role, but the dollar has moved mostly sideways over the past four months.

Mortgage rates had fallen far enough below the average mortgage rate paid by existing mortgage holders to spark the refinancing wave, but this has now changed. It takes an incentive of about 50 basis points to encourage refinancing activity, but the move up in yield has reduced the average refinancing incentive for holders of conventional conforming mortgages down to about 25 basis points. The rise in mortgage rates is the biggest negative in today’s developments. Rates were low for too short a time to make a real dent in the mortgage equation. With housing the economy’s biggest problem, this is why, in an odd way, it would be better for the markets to be gloomy, as it would keep mortgage rates low for longer and help to spur significant mortgage refinancings and dull the impact of mortgage resets.

[EconProf]

BobS
Let’s remember that the Fed can only push down short term rates, like the fed funds rate and short term treasuries. Long term rates are set by the market, and are especially influenced by inflationary expectations.
With the dollar weak and falling, investors will not want to tie up their money at a fixed rate of, say, 5 3/4% for many years when inflation could take off due to a profligate Fed and incoming big-spending congress and president.
This may explain the increasing divergence, in recent days, between the short-term money rates and long-terms 10 & 30-year bond rates (& mortgage rates).
We may have recently seen the lowest mortgage rates for a long, long time.

[EconProf]

BobS
Let’s remember that the Fed can only push down short term rates, like the fed funds rate and short term treasuries. Long term rates are set by the market, and are especially influenced by inflationary expectations.
With the dollar weak and falling, investors will not want to tie up their money at a fixed rate of, say, 5 3/4% for many years when inflation could take off due to a profligate Fed and incoming big-spending congress and president.
This may explain the increasing divergence, in recent days, between the short-term money rates and long-terms 10 & 30-year bond rates (& mortgage rates).
We may have recently seen the lowest mortgage rates for a long, long time.

[EconProf]

BobS
Let’s remember that the Fed can only push down short term rates, like the fed funds rate and short term treasuries. Long term rates are set by the market, and are especially influenced by inflationary expectations.
With the dollar weak and falling, investors will not want to tie up their money at a fixed rate of, say, 5 3/4% for many years when inflation could take off due to a profligate Fed and incoming big-spending congress and president.
This may explain the increasing divergence, in recent days, between the short-term money rates and long-terms 10 & 30-year bond rates (& mortgage rates).
We may have recently seen the lowest mortgage rates for a long, long time.

[EconProf]

BobS
Let’s remember that the Fed can only push down short term rates, like the fed funds rate and short term treasuries. Long term rates are set by the market, and are especially influenced by inflationary expectations.
With the dollar weak and falling, investors will not want to tie up their money at a fixed rate of, say, 5 3/4% for many years when inflation could take off due to a profligate Fed and incoming big-spending congress and president.
This may explain the increasing divergence, in recent days, between the short-term money rates and long-terms 10 & 30-year bond rates (& mortgage rates).
We may have recently seen the lowest mortgage rates for a long, long time.

[EconProf]

BobS
Let’s remember that the Fed can only push down short term rates, like the fed funds rate and short term treasuries. Long term rates are set by the market, and are especially influenced by inflationary expectations.
With the dollar weak and falling, investors will not want to tie up their money at a fixed rate of, say, 5 3/4% for many years when inflation could take off due to a profligate Fed and incoming big-spending congress and president.
This may explain the increasing divergence, in recent days, between the short-term money rates and long-terms 10 & 30-year bond rates (& mortgage rates).
We may have recently seen the lowest mortgage rates for a long, long time.

[gdcox]

Graham

Inflation worries hit Treasuries
Tony Crescenzi, chief bond market strategist, Miller Tabak

The yield on the 10-year Treasury note, which climbed 12 basis points, to 3.89%, threatens the nascent strength in mortgage refinancing activity. The root of the rate rise is inflation after China reported its consumer price index soared 7.1% year-over-year in January, the most it has risen since September, 1996. Adding to inflation worries is today’s surge to a new record high for the CRB index and a surge in industrial materials prices. The dollar’s drop is probably playing a role, but the dollar has moved mostly sideways over the past four months.

Mortgage rates had fallen far enough below the average mortgage rate paid by existing mortgage holders to spark the refinancing wave, but this has now changed. It takes an incentive of about 50 basis points to encourage refinancing activity, but the move up in yield has reduced the average refinancing incentive for holders of conventional conforming mortgages down to about 25 basis points. The rise in mortgage rates is the biggest negative in today’s developments. Rates were low for too short a time to make a real dent in the mortgage equation. With housing the economy’s biggest problem, this is why, in an odd way, it would be better for the markets to be gloomy, as it would keep mortgage rates low for longer and help to spur significant mortgage refinancings and dull the impact of mortgage resets.

[gdcox]

Graham

Inflation worries hit Treasuries
Tony Crescenzi, chief bond market strategist, Miller Tabak

The yield on the 10-year Treasury note, which climbed 12 basis points, to 3.89%, threatens the nascent strength in mortgage refinancing activity. The root of the rate rise is inflation after China reported its consumer price index soared 7.1% year-over-year in January, the most it has risen since September, 1996. Adding to inflation worries is today’s surge to a new record high for the CRB index and a surge in industrial materials prices. The dollar’s drop is probably playing a role, but the dollar has moved mostly sideways over the past four months.

Mortgage rates had fallen far enough below the average mortgage rate paid by existing mortgage holders to spark the refinancing wave, but this has now changed. It takes an incentive of about 50 basis points to encourage refinancing activity, but the move up in yield has reduced the average refinancing incentive for holders of conventional conforming mortgages down to about 25 basis points. The rise in mortgage rates is the biggest negative in today’s developments. Rates were low for too short a time to make a real dent in the mortgage equation. With housing the economy’s biggest problem, this is why, in an odd way, it would be better for the markets to be gloomy, as it would keep mortgage rates low for longer and help to spur significant mortgage refinancings and dull the impact of mortgage resets.

[gdcox]

Graham

Inflation worries hit Treasuries
Tony Crescenzi, chief bond market strategist, Miller Tabak

The yield on the 10-year Treasury note, which climbed 12 basis points, to 3.89%, threatens the nascent strength in mortgage refinancing activity. The root of the rate rise is inflation after China reported its consumer price index soared 7.1% year-over-year in January, the most it has risen since September, 1996. Adding to inflation worries is today’s surge to a new record high for the CRB index and a surge in industrial materials prices. The dollar’s drop is probably playing a role, but the dollar has moved mostly sideways over the past four months.

Mortgage rates had fallen far enough below the average mortgage rate paid by existing mortgage holders to spark the refinancing wave, but this has now changed. It takes an incentive of about 50 basis points to encourage refinancing activity, but the move up in yield has reduced the average refinancing incentive for holders of conventional conforming mortgages down to about 25 basis points. The rise in mortgage rates is the biggest negative in today’s developments. Rates were low for too short a time to make a real dent in the mortgage equation. With housing the economy’s biggest problem, this is why, in an odd way, it would be better for the markets to be gloomy, as it would keep mortgage rates low for longer and help to spur significant mortgage refinancings and dull the impact of mortgage resets.

[gdcox]

Graham

Inflation worries hit Treasuries
Tony Crescenzi, chief bond market strategist, Miller Tabak

The yield on the 10-year Treasury note, which climbed 12 basis points, to 3.89%, threatens the nascent strength in mortgage refinancing activity. The root of the rate rise is inflation after China reported its consumer price index soared 7.1% year-over-year in January, the most it has risen since September, 1996. Adding to inflation worries is today’s surge to a new record high for the CRB index and a surge in industrial materials prices. The dollar’s drop is probably playing a role, but the dollar has moved mostly sideways over the past four months.

Mortgage rates had fallen far enough below the average mortgage rate paid by existing mortgage holders to spark the refinancing wave, but this has now changed. It takes an incentive of about 50 basis points to encourage refinancing activity, but the move up in yield has reduced the average refinancing incentive for holders of conventional conforming mortgages down to about 25 basis points. The rise in mortgage rates is the biggest negative in today’s developments. Rates were low for too short a time to make a real dent in the mortgage equation. With housing the economy’s biggest problem, this is why, in an odd way, it would be better for the markets to be gloomy, as it would keep mortgage rates low for longer and help to spur significant mortgage refinancings and dull the impact of mortgage resets.

[an]

Yesterday, the lowest I’ve seen on a 30 year rate was 5.375% w/ almost 4 points. Today, it’s 5.625% with 3.6 points. So yeah, I love to know where you can get 5.25% today.

[an]

Yesterday, the lowest I’ve seen on a 30 year rate was 5.375% w/ almost 4 points. Today, it’s 5.625% with 3.6 points. So yeah, I love to know where you can get 5.25% today.

[an]

Yesterday, the lowest I’ve seen on a 30 year rate was 5.375% w/ almost 4 points. Today, it’s 5.625% with 3.6 points. So yeah, I love to know where you can get 5.25% today.

[an]

Yesterday, the lowest I’ve seen on a 30 year rate was 5.375% w/ almost 4 points. Today, it’s 5.625% with 3.6 points. So yeah, I love to know where you can get 5.25% today.

[SD Realtor]

Hard to see that loan being available at the current 10 year rate.

SD Realtor

[SD Realtor]

Hard to see that loan being available at the current 10 year rate.

SD Realtor

[SD Realtor]

Hard to see that loan being available at the current 10 year rate.

SD Realtor

[SD Realtor]

Hard to see that loan being available at the current 10 year rate.

SD Realtor

[rbeast]

Rich’s associate told me to try San Diego County Credit Union (about 3 weeks ago).

I was able to re-fi for 15 years @ 4.75 with 1 pt – thanks, Rich & John!

[HLS]

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.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[HLS]

“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”

OH really ?? Please explain THAT comment to me.

[HereWeGo]

What are the terms of the 10 year ARM? Is it fixed for 10 years?

How are 10 year ARMs ulrimately funded? Do the GSEs buy them?

[HLS]

10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.

For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)

For investment property, you MUST take the amortized payment.

There is no prepayment penalty.

When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.

One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.

Other lenders might offer different terms, but the prime lender rates require the above.

I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)

This is NOT a good thing with those that have condo rentals.

[Raybyrnes]

Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.

[ucodegen]

[quote Raybyrnes]
Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.
[/quote]

Probably some sort of ‘tease’ to get people in the door. Freddie Mac is showing 4.69/0.7pt for 30 and 4.13/0.6pt for 15 year — not that a person will actually get that since Freddie Mac is a ‘refinancer’ and not an ‘originator’.. I would add in about 0.20 for the ‘originator’s cut.

http://www.freddiemac.com/pmms/release.html?week=25&year=2010

[SD Realtor]

Rates are smoking right now. Simply look at the 10 year yield.

[LAAFTERHOURS]

I have to threadjack since we are talking rates and give a quick plug to HLS. He not only helped me get a great rate back in December on our home purchase but also helped me refi in the past few weeks, lowering my 30 yr rate and removing PMI (We put down just short of 20% on a short sale and luckily our house appraised 9% higher to bring our equity above 20%). He is well informed, honest and meticulous with his work. Thanks again HLS.

[sdrealtor]

I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man!

[LAAFTERHOURS]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

Got the same rate and no cost. Cant agree more with your final point.

[AK]

I closed in March at 4.875% and I’m already running the numbers on refinancing …

[AK]

I closed in March at 4.875% and I’m already running the numbers on refinancing …

[AK]

I closed in March at 4.875% and I’m already running the numbers on refinancing …

[AK]

I closed in March at 4.875% and I’m already running the numbers on refinancing …

[AK]

I closed in March at 4.875% and I’m already running the numbers on refinancing …

[LAAFTERHOURS]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

Got the same rate and no cost. Cant agree more with your final point.

[LAAFTERHOURS]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

Got the same rate and no cost. Cant agree more with your final point.

[LAAFTERHOURS]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

Got the same rate and no cost. Cant agree more with your final point.

[LAAFTERHOURS]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

Got the same rate and no cost. Cant agree more with your final point.

[plm]

HLS,

We purchased a brand new home a little over a month ago and got 5.5 percent for a 15 year loan which seemed absurdly high at the time but we were stuck with that lender to get the builder incentives.

I was thinking of who to go with for refinancing and with all of these great comments, I suppose I should go with you. Could you PM me your contact info?

Thanks!

[1stimebuy]

I don’t know other banks but I can tell you about SDCCU that I just closed escrow with. Their process seems short & efficient, and the rate is pretty good too.

4.75% on 30 year fixed, no points for me

[HLS]

[email protected]

There are many variables in loan pricing/qualifying including credit score, equity, loan amount, source of income, property type, term, if you are paying off a 2nd OR HELOC or taking cash out and whether or not you have an impound account for taxes insurance.

There is a difference between a no cost loan and a no point loan.
Pricing is subject to change at any time until locked.
Getting a true no cost loan depends on your loan amount. It is a higher rate to get a $100K no cost loan than a $400K no cost loan.

Up to $417K loan amount, at the moment, 30 YR zero cost loans for primary residence houses are between 4.625% and 4.875% 15 YR loans are 4.125-4.25%.

With a cost 15 YR loans are as low as 3.75% and 30 YR as low as 4.25%. ARMS are in the 3’s.

Rental houses with at least 25% equity are as low as 5.00% on 30 YR or 4.375% for 15 YR

THERE IS NO ONE RATE THAT FITS EVERYONE!!!
Not everyone can qualify.. Condos/Townhomes can be more difficult. Pricing could be better or worse tomorrow!… HLS

[donaldduckmoore]

I locked mine about 2 weeks ago at 4.5% no pt no fee for 30 yrs. I thought the rate is around or lower than that I locked because of the bad news in economy. My surprise.

[donaldduckmoore]

I locked mine about 2 weeks ago at 4.5% no pt no fee for 30 yrs. I thought the rate is around or lower than that I locked because of the bad news in economy. My surprise.

[donaldduckmoore]

I locked mine about 2 weeks ago at 4.5% no pt no fee for 30 yrs. I thought the rate is around or lower than that I locked because of the bad news in economy. My surprise.

[donaldduckmoore]

I locked mine about 2 weeks ago at 4.5% no pt no fee for 30 yrs. I thought the rate is around or lower than that I locked because of the bad news in economy. My surprise.

[donaldduckmoore]

I locked mine about 2 weeks ago at 4.5% no pt no fee for 30 yrs. I thought the rate is around or lower than that I locked because of the bad news in economy. My surprise.

[HLS]

[email protected]

There are many variables in loan pricing/qualifying including credit score, equity, loan amount, source of income, property type, term, if you are paying off a 2nd OR HELOC or taking cash out and whether or not you have an impound account for taxes insurance.

There is a difference between a no cost loan and a no point loan.
Pricing is subject to change at any time until locked.
Getting a true no cost loan depends on your loan amount. It is a higher rate to get a $100K no cost loan than a $400K no cost loan.

Up to $417K loan amount, at the moment, 30 YR zero cost loans for primary residence houses are between 4.625% and 4.875% 15 YR loans are 4.125-4.25%.

With a cost 15 YR loans are as low as 3.75% and 30 YR as low as 4.25%. ARMS are in the 3’s.

Rental houses with at least 25% equity are as low as 5.00% on 30 YR or 4.375% for 15 YR

THERE IS NO ONE RATE THAT FITS EVERYONE!!!
Not everyone can qualify.. Condos/Townhomes can be more difficult. Pricing could be better or worse tomorrow!… HLS

[HLS]

[email protected]

There are many variables in loan pricing/qualifying including credit score, equity, loan amount, source of income, property type, term, if you are paying off a 2nd OR HELOC or taking cash out and whether or not you have an impound account for taxes insurance.

There is a difference between a no cost loan and a no point loan.
Pricing is subject to change at any time until locked.
Getting a true no cost loan depends on your loan amount. It is a higher rate to get a $100K no cost loan than a $400K no cost loan.

Up to $417K loan amount, at the moment, 30 YR zero cost loans for primary residence houses are between 4.625% and 4.875% 15 YR loans are 4.125-4.25%.

With a cost 15 YR loans are as low as 3.75% and 30 YR as low as 4.25%. ARMS are in the 3’s.

Rental houses with at least 25% equity are as low as 5.00% on 30 YR or 4.375% for 15 YR

THERE IS NO ONE RATE THAT FITS EVERYONE!!!
Not everyone can qualify.. Condos/Townhomes can be more difficult. Pricing could be better or worse tomorrow!… HLS

[HLS]

[email protected]

There are many variables in loan pricing/qualifying including credit score, equity, loan amount, source of income, property type, term, if you are paying off a 2nd OR HELOC or taking cash out and whether or not you have an impound account for taxes insurance.

There is a difference between a no cost loan and a no point loan.
Pricing is subject to change at any time until locked.
Getting a true no cost loan depends on your loan amount. It is a higher rate to get a $100K no cost loan than a $400K no cost loan.

Up to $417K loan amount, at the moment, 30 YR zero cost loans for primary residence houses are between 4.625% and 4.875% 15 YR loans are 4.125-4.25%.

With a cost 15 YR loans are as low as 3.75% and 30 YR as low as 4.25%. ARMS are in the 3’s.

Rental houses with at least 25% equity are as low as 5.00% on 30 YR or 4.375% for 15 YR

THERE IS NO ONE RATE THAT FITS EVERYONE!!!
Not everyone can qualify.. Condos/Townhomes can be more difficult. Pricing could be better or worse tomorrow!… HLS

[HLS]

[email protected]

There are many variables in loan pricing/qualifying including credit score, equity, loan amount, source of income, property type, term, if you are paying off a 2nd OR HELOC or taking cash out and whether or not you have an impound account for taxes insurance.

There is a difference between a no cost loan and a no point loan.
Pricing is subject to change at any time until locked.
Getting a true no cost loan depends on your loan amount. It is a higher rate to get a $100K no cost loan than a $400K no cost loan.

Up to $417K loan amount, at the moment, 30 YR zero cost loans for primary residence houses are between 4.625% and 4.875% 15 YR loans are 4.125-4.25%.

With a cost 15 YR loans are as low as 3.75% and 30 YR as low as 4.25%. ARMS are in the 3’s.

Rental houses with at least 25% equity are as low as 5.00% on 30 YR or 4.375% for 15 YR

THERE IS NO ONE RATE THAT FITS EVERYONE!!!
Not everyone can qualify.. Condos/Townhomes can be more difficult. Pricing could be better or worse tomorrow!… HLS

[1stimebuy]

I don’t know other banks but I can tell you about SDCCU that I just closed escrow with. Their process seems short & efficient, and the rate is pretty good too.

4.75% on 30 year fixed, no points for me

[1stimebuy]

I don’t know other banks but I can tell you about SDCCU that I just closed escrow with. Their process seems short & efficient, and the rate is pretty good too.

4.75% on 30 year fixed, no points for me

[1stimebuy]

I don’t know other banks but I can tell you about SDCCU that I just closed escrow with. Their process seems short & efficient, and the rate is pretty good too.

4.75% on 30 year fixed, no points for me

[1stimebuy]

I don’t know other banks but I can tell you about SDCCU that I just closed escrow with. Their process seems short & efficient, and the rate is pretty good too.

4.75% on 30 year fixed, no points for me

[plm]

HLS,

We purchased a brand new home a little over a month ago and got 5.5 percent for a 15 year loan which seemed absurdly high at the time but we were stuck with that lender to get the builder incentives.

I was thinking of who to go with for refinancing and with all of these great comments, I suppose I should go with you. Could you PM me your contact info?

Thanks!

[plm]

HLS,

We purchased a brand new home a little over a month ago and got 5.5 percent for a 15 year loan which seemed absurdly high at the time but we were stuck with that lender to get the builder incentives.

I was thinking of who to go with for refinancing and with all of these great comments, I suppose I should go with you. Could you PM me your contact info?

Thanks!

[plm]

HLS,

We purchased a brand new home a little over a month ago and got 5.5 percent for a 15 year loan which seemed absurdly high at the time but we were stuck with that lender to get the builder incentives.

I was thinking of who to go with for refinancing and with all of these great comments, I suppose I should go with you. Could you PM me your contact info?

Thanks!

[plm]

HLS,

We purchased a brand new home a little over a month ago and got 5.5 percent for a 15 year loan which seemed absurdly high at the time but we were stuck with that lender to get the builder incentives.

I was thinking of who to go with for refinancing and with all of these great comments, I suppose I should go with you. Could you PM me your contact info?

Thanks!

[5yearwaiter]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

HLS, Wow!! great rate then?. If anyone want to take 417K for 30yr fixed what kind of rate is possible these days? Is there any top discounted rates as per today news saying “Mortgage rates record low”.

[sdrealtor]

I heard a 4.5% rate today for a well qualified borrower with high 700 scores. Of course everything differs based upon your situation but those rates are out there.

[sdrealtor]

I heard a 4.5% rate today for a well qualified borrower with high 700 scores. Of course everything differs based upon your situation but those rates are out there.

[sdrealtor]

I heard a 4.5% rate today for a well qualified borrower with high 700 scores. Of course everything differs based upon your situation but those rates are out there.

[sdrealtor]

I heard a 4.5% rate today for a well qualified borrower with high 700 scores. Of course everything differs based upon your situation but those rates are out there.

[sdrealtor]

I heard a 4.5% rate today for a well qualified borrower with high 700 scores. Of course everything differs based upon your situation but those rates are out there.

[5yearwaiter]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

HLS, Wow!! great rate then?. If anyone want to take 417K for 30yr fixed what kind of rate is possible these days? Is there any top discounted rates as per today news saying “Mortgage rates record low”.

[5yearwaiter]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

HLS, Wow!! great rate then?. If anyone want to take 417K for 30yr fixed what kind of rate is possible these days? Is there any top discounted rates as per today news saying “Mortgage rates record low”.

[5yearwaiter]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

HLS, Wow!! great rate then?. If anyone want to take 417K for 30yr fixed what kind of rate is possible these days? Is there any top discounted rates as per today news saying “Mortgage rates record low”.

[5yearwaiter]

[quote=sdrealtor]I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man![/quote]

HLS, Wow!! great rate then?. If anyone want to take 417K for 30yr fixed what kind of rate is possible these days? Is there any top discounted rates as per today news saying “Mortgage rates record low”.

[sdrealtor]

I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man!

[sdrealtor]

I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man!

[sdrealtor]

I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man!

[sdrealtor]

I’ll go one better on HLS. I had clients close a $697,500 loan about a month at 5.125% and before they made a payment he was able to refi them down to 4.75% with no costs or penalties to them. I still dont know how he pulled that off but that is amazing. They will save a couple thousand a year for the life of the loan, didnt extend their term and didnt spend a penny to do it. WTF He’s the man!

[LAAFTERHOURS]

I have to threadjack since we are talking rates and give a quick plug to HLS. He not only helped me get a great rate back in December on our home purchase but also helped me refi in the past few weeks, lowering my 30 yr rate and removing PMI (We put down just short of 20% on a short sale and luckily our house appraised 9% higher to bring our equity above 20%). He is well informed, honest and meticulous with his work. Thanks again HLS.

[LAAFTERHOURS]

I have to threadjack since we are talking rates and give a quick plug to HLS. He not only helped me get a great rate back in December on our home purchase but also helped me refi in the past few weeks, lowering my 30 yr rate and removing PMI (We put down just short of 20% on a short sale and luckily our house appraised 9% higher to bring our equity above 20%). He is well informed, honest and meticulous with his work. Thanks again HLS.

[LAAFTERHOURS]

I have to threadjack since we are talking rates and give a quick plug to HLS. He not only helped me get a great rate back in December on our home purchase but also helped me refi in the past few weeks, lowering my 30 yr rate and removing PMI (We put down just short of 20% on a short sale and luckily our house appraised 9% higher to bring our equity above 20%). He is well informed, honest and meticulous with his work. Thanks again HLS.

[LAAFTERHOURS]

I have to threadjack since we are talking rates and give a quick plug to HLS. He not only helped me get a great rate back in December on our home purchase but also helped me refi in the past few weeks, lowering my 30 yr rate and removing PMI (We put down just short of 20% on a short sale and luckily our house appraised 9% higher to bring our equity above 20%). He is well informed, honest and meticulous with his work. Thanks again HLS.

[SD Realtor]

Rates are smoking right now. Simply look at the 10 year yield.

[SD Realtor]

Rates are smoking right now. Simply look at the 10 year yield.

[SD Realtor]

Rates are smoking right now. Simply look at the 10 year yield.

[SD Realtor]

Rates are smoking right now. Simply look at the 10 year yield.

[ucodegen]

[quote Raybyrnes]
Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.
[/quote]

Probably some sort of ‘tease’ to get people in the door. Freddie Mac is showing 4.69/0.7pt for 30 and 4.13/0.6pt for 15 year — not that a person will actually get that since Freddie Mac is a ‘refinancer’ and not an ‘originator’.. I would add in about 0.20 for the ‘originator’s cut.

http://www.freddiemac.com/pmms/release.html?week=25&year=2010

[ucodegen]

[quote Raybyrnes]
Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.
[/quote]

Probably some sort of ‘tease’ to get people in the door. Freddie Mac is showing 4.69/0.7pt for 30 and 4.13/0.6pt for 15 year — not that a person will actually get that since Freddie Mac is a ‘refinancer’ and not an ‘originator’.. I would add in about 0.20 for the ‘originator’s cut.

http://www.freddiemac.com/pmms/release.html?week=25&year=2010

[ucodegen]

[quote Raybyrnes]
Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.
[/quote]

Probably some sort of ‘tease’ to get people in the door. Freddie Mac is showing 4.69/0.7pt for 30 and 4.13/0.6pt for 15 year — not that a person will actually get that since Freddie Mac is a ‘refinancer’ and not an ‘originator’.. I would add in about 0.20 for the ‘originator’s cut.

http://www.freddiemac.com/pmms/release.html?week=25&year=2010

[ucodegen]

[quote Raybyrnes]
Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.
[/quote]

Probably some sort of ‘tease’ to get people in the door. Freddie Mac is showing 4.69/0.7pt for 30 and 4.13/0.6pt for 15 year — not that a person will actually get that since Freddie Mac is a ‘refinancer’ and not an ‘originator’.. I would add in about 0.20 for the ‘originator’s cut.

http://www.freddiemac.com/pmms/release.html?week=25&year=2010

[Raybyrnes]

Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.

[Raybyrnes]

Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.

[Raybyrnes]

Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.

[Raybyrnes]

Any update on where 30 and 15 year fixed rates are at. Full doc, 40% equity on home. Aimloan is advertising 4.5 on a 30 and 3.875 on a 15 year.

[HLS]

10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.

For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)

For investment property, you MUST take the amortized payment.

There is no prepayment penalty.

When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.

One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.

Other lenders might offer different terms, but the prime lender rates require the above.

I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)

This is NOT a good thing with those that have condo rentals.

[HLS]

10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.

For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)

For investment property, you MUST take the amortized payment.

There is no prepayment penalty.

When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.

One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.

Other lenders might offer different terms, but the prime lender rates require the above.

I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)

This is NOT a good thing with those that have condo rentals.

[HLS]

10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.

For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)

For investment property, you MUST take the amortized payment.

There is no prepayment penalty.

When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.

One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.

Other lenders might offer different terms, but the prime lender rates require the above.

I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)

This is NOT a good thing with those that have condo rentals.

[HLS]

10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.

For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)

For investment property, you MUST take the amortized payment.

There is no prepayment penalty.

When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.

One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.

Other lenders might offer different terms, but the prime lender rates require the above.

I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)

This is NOT a good thing with those that have condo rentals.

[HereWeGo]

What are the terms of the 10 year ARM? Is it fixed for 10 years?

How are 10 year ARMs ulrimately funded? Do the GSEs buy them?

[HereWeGo]

What are the terms of the 10 year ARM? Is it fixed for 10 years?

How are 10 year ARMs ulrimately funded? Do the GSEs buy them?

[HereWeGo]

What are the terms of the 10 year ARM? Is it fixed for 10 years?

How are 10 year ARMs ulrimately funded? Do the GSEs buy them?

[HereWeGo]

What are the terms of the 10 year ARM? Is it fixed for 10 years?

How are 10 year ARMs ulrimately funded? Do the GSEs buy them?

[HLS]

“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”

OH really ?? Please explain THAT comment to me.

[HLS]

“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”

OH really ?? Please explain THAT comment to me.

[HLS]

“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”

OH really ?? Please explain THAT comment to me.

[HLS]

“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”

OH really ?? Please explain THAT comment to me.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[HLS]

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.

[HLS]

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.

[HLS]

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.

[HLS]

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.

[rbeast]

Rich’s associate told me to try San Diego County Credit Union (about 3 weeks ago).

I was able to re-fi for 15 years @ 4.75 with 1 pt – thanks, Rich & John!

[rbeast]

Rich’s associate told me to try San Diego County Credit Union (about 3 weeks ago).

I was able to re-fi for 15 years @ 4.75 with 1 pt – thanks, Rich & John!

[rbeast]

Rich’s associate told me to try San Diego County Credit Union (about 3 weeks ago).

I was able to re-fi for 15 years @ 4.75 with 1 pt – thanks, Rich & John!

[rbeast]

Rich’s associate told me to try San Diego County Credit Union (about 3 weeks ago).

I was able to re-fi for 15 years @ 4.75 with 1 pt – thanks, Rich & John!

[danielwis]

Remember, a paid off house has ZERO percent interest for the rest of your life! If you can’t pay it off in less than 15 years, it probably isn’t worth it. JMO.

[danielwis]

Remember, a paid off house has ZERO percent interest for the rest of your life! If you can’t pay it off in less than 15 years, it probably isn’t worth it. JMO.

[danielwis]

Remember, a paid off house has ZERO percent interest for the rest of your life! If you can’t pay it off in less than 15 years, it probably isn’t worth it. JMO.

[danielwis]

Remember, a paid off house has ZERO percent interest for the rest of your life! If you can’t pay it off in less than 15 years, it probably isn’t worth it. JMO.

[danielwis]

Remember, a paid off house has ZERO percent interest for the rest of your life! If you can’t pay it off in less than 15 years, it probably isn’t worth it. JMO.

[Author]

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