Lowest mortgage rates in history?

[treehugger]

I refi’d after Brexit a few years ago and ended up with 3% for 30 year fixed….. Friday started following rates and telling friends to refi, as of this morning my friend just locked at 3% with a 3.011% APR (30 year fixed), crazy times!

http://www.mortgagenewsdaily.com/consumer_rates/937323.aspx

[spdrun]

Won’t help values much if foreign buyers run scared and people get another 20-30% knocked off their investments …

[Coronita]

[quote=spdrun]Won’t help values much if foreign buyers run scared and people get another 20-30% knocked off their investments …[/quote]

lol foreign buyers.

[gzz]

92107 is back under 1 month supply. 28 sales the last month, MLS inventory is currently 25.

Who did you use? Is this a no-cost rate?

My rate and balance is fairly low so I wouldn’t refi unless it is 3.0 and zero cost.

[treehugger]

She used Sebonic online and with all closing costs it was about $2500, she is going to save over $200/month so she makes it up in a year.

[Anonymous]

[quote=flu][quote=spdrun]Won’t help values much if foreign buyers run scared and people get another 20-30% knocked off their investments …[/quote]

lol foreign buyers.[/quote]

Always great to hear from the LETDLITA

[Coronita]

fed just cut rates. I think like Japan, we won’t see rates rise for a long long time. lol

[FlyerInHi]

[quote=flu]fed just cut rates. I think like Japan, we won’t see rates rise for a long long time. lol[/quote]

That’s what I anticipated. No hyperinflation despite record deficits. The people who locked-in fixed rate mortgages a decade ago in anticipation of inflation have been so wrong.

[The-Shoveler]

Anyone know what the lowest 15 year-fixed rate is and where to get it?

[gzz]

The rate savings is so tiny on a 15 v 30 I’d just get the 30.

My last mortgage I rate shopped on Zillow and then used Sebonic which had the lowest rate.

Boxhomeloans.com is a useful site that gives rate quotes without email/phone/registration. Lets you play with assumptions easily.

They have good not great rates, but a great website for comparing different types of mortgages quickly without hassle.

[The-Shoveler]

Quicken loan was at 2.99% on 30 a few minutes ago., thanks

[EJ]

I locked a 30yr at 3.24% yesterday with no costs. That was a 0.376% reduction for me. Thanks to Home Loan Sheldon (long-time occasional Piggington contributor HLS)! I just saved a few years of mortgage payments. Had considered going with a 15 or 20 year, but not much spread, so kept my options open with the 30yr.

[Coronita]

[quote=gzz]The rate savings is so tiny on a 15 v 30 I’d just get the 30.

My last mortgage I rate shopped on Zillow and then used Sebonic which had the lowest rate.

Boxhomeloans.com is a useful site that gives rate quotes without email/phone/registration. Lets you play with assumptions easily.

They have good not great rates, but a great website for comparing different types of mortgages quickly without hassle.[/quote]

You can always do a 30year and make 15 year payments.

[Coronita]

[quote=EJ]I locked a 30yr at 3.24% yesterday with no costs. That was a 0.376% reduction for me. Thanks to Home Loan Sheldon (long-time occasional Piggington contributor HLS)! I just saved a few years of mortgage payments. Had considered going with a 15 or 20 year, but not much spread, so kept my options open with the 30yr.[/quote]

Congrats. that’s a great rate. Happy to hear people here milking the great rate environment.

[23109VC]

where do you guys think rates will go? I am going to refi – I missed the massive low price a couple weeks back.. rates now are still low and much lower than what I have now, but I’m wondering if rates will back down.

I read online that the fed will start buying MBS’s… and while I don’t really fully get why that will impact rates, I’m reading that rates will go back down because of it.

what do you all think? I can refi now or I can wait afew weeks. I”m not in a rush but want to do it.

i’m currently in a 30 year fixed at 5.25. I was told I can refi now at 3.75 for another 30 or 3.25 for a 15.

my mortage balance is about $260k, on a house worth about $500.

if I take cash out the rates go up substantially.

thanks

[Author]

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