Mortgage rates going down?

[FlyerInHi]

I remember back in 2009, gold bugs predicted that the stimulus could cause Dollar debasement, skyrocketing interest rates, stagflation, a double dip recession, and dropping house prices.

[NotCranky]

I missed Feb mortgage lows but am watching now. I could currently get 3.8ish at my credit union for 2k in cost on a refi. That’s not enough. I don’t want to go with lending tree or something like that because of an experience with Aim loan where they refused my application after the appraisal because I have a 2 on 1. I guess I am wary of these kinds of originators.

I don’t know anything about this guy , maybe he is a joke to you serious financial types, but he seems to like up with FLU’s prediction for rates dropping this year.

http://www.cnbc.com/2016/03/31/mark-grant-why-the-us-10-year-could-fall-further.html

[spdrun]

We have stagflation — the inflation is just in specific asset prices.

[The-Shoveler]

It is pretty clear that wages are rising, the rise in minimum wage has not killed jobs and is in fact increasing spending.

All in all not bad IMO.

[spdrun]

That’s inflationary crap. Min wage should keep up with inflation, not drive it.

Growth is fundamentally environmentally destructive — recessions and depressions tend to be good for the environment.

Glad the NY min wage law has a clause allowing the governor to abrogate it in case of recession.

[The-Shoveler]

First you have to catch up.

[FlyerInHi]

[quote=The-Shoveler]It is pretty clear that wages are rising, the rise in minimum wage has not killed jobs and is in fact increasing spending.

All in all not bad IMO.[/quote]

that’s about right shoveler.

millennials and the bottom income are what is driving the economy. Want more economic growth? put money in their pockets.

http://www.msn.com/en-us/money/markets/how-millennials-and-low-income-consumers-are-propping-up-the-us-economy/ar-BBr5uyD?li=BBnbfcN

Can you explain Trump gets it? He’s not supporting minimum wage increases.

[The-Shoveler]

The only thing that I was referring to is that Trump understands that the national debt is a problem that can be solved without undue pain.

[NotCranky]

http://data.cnbc.com/quotes/US10Y

[moneymaker]

30 year treasury at 2.11% new record low. Explains why I’m refi’ing, never thought I would again after last time, but it makes sense to do it.

[Escoguy]

moneymaker,

what rate did you get? with whom?

I got 3.1% on 417K fixed 30 with First republic,

must say still a little in shock

[moneymaker]

I’m getting 2.625% (APR 2.699%) on a 15 year sub 417K money out loan. Going to use the money to pay off HELOC (used to put in the solar) which is currently at 4.75%. Appraisal is $495 with fees of around $1000. Not going to say who just yet as I have read some bad reviews online after starting the process, so far it is going well, have turned in documentation and am meeting with appraiser this afternoon. PS- Did sell my silver bullion yesterday when spot was above $20, still holding onto the gold though.

[Coronita]

[quote=moneymaker]I’m getting 2.625% (APR 2.699%) on a 15 year sub 417K money out loan. Going to use the money to pay off HELOC (used to put in the solar) which is currently at 4.75%. Appraisal is $495 with fees of around $1000. Not going to say who just yet as I have read some bad reviews online after starting the process, so far it is going well, have turned in documentation and am meeting with appraiser this afternoon. PS- Did sell my silver bullion yesterday when spot was above $20, still holding onto the gold though.[/quote]

On 15year, 2.5% was the lowest I got with no out of pocket cost back awhile ago. That was the absolutely lowest I was able to get. So if you’re getting about 2.699%, on a cash out refi.

My loan came from provident.

[moneymaker]

Appraisal is done, took 20 minutes, I’m not to excited about what it comes in at because according to Zillow we are right around 50% so i figure got at least a 10% cushion.

Appraisal came in at twice loan amount, is there a break for being slightly under 50% as opposed to being slightly over? HLS?

[HLS]

[quote=moneymaker]
Appraisal came in at twice loan amount, is there a break for being slightly under 50% as opposed to being slightly over? HLS?[/quote]

If you’re dealing with a conventional Fannie/Freddie loan,
I don’t think you will see any difference in pricing.

If there is better pricing and you are using a broker, you WILL definitely get the credit.
If you are using a bank or direct lender you may or may not get the credit.

If you run into any trouble, let me know.

[Author]

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