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davelj.
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March 19, 2009 at 12:00 PM #370615March 19, 2009 at 12:10 PM #370014
equalizer
Participant[quote=massey]
These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.[/quote]
Except sellers just read your post and will raise prices a little, maybe 5%.
March 19, 2009 at 12:10 PM #370302Participant[quote=massey]
These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.[/quote]
Except sellers just read your post and will raise prices a little, maybe 5%.
March 19, 2009 at 12:10 PM #370468Participant[quote=massey]
These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.[/quote]
Except sellers just read your post and will raise prices a little, maybe 5%.
March 19, 2009 at 12:10 PM #370509Participant[quote=massey]
These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.[/quote]
Except sellers just read your post and will raise prices a little, maybe 5%.
March 19, 2009 at 12:10 PM #370625Participant[quote=massey]
These are good rates, when you add in the First Time Buyers 10k tax credit its a good deal. Now its still a matter of finding the bottom of the housing market. A better price is better than a great rate.
That depends how much you’re expecting the prices to fall.
I did a rough calculation and came up with these equivalences in terms of total cash outflow (assuming 30yr fixed):
300k @ 6% = 355k @ 4.5%
536k @ 6% = 635k @ 4.5%Those are fairly sizable discounts.
Hopefully what we will see is both a rate decrease AND these ultra low rates. Of course that might mean the world is about to end, though.[/quote]
Except sellers just read your post and will raise prices a little, maybe 5%.
March 20, 2009 at 12:18 AM #370179Anonymous
Guest[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]
What are you including in the closing costs? $1200
sounds like quite a bargain!March 20, 2009 at 12:18 AM #370467Guest[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]
What are you including in the closing costs? $1200
sounds like quite a bargain!March 20, 2009 at 12:18 AM #370632Guest[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]
What are you including in the closing costs? $1200
sounds like quite a bargain!March 20, 2009 at 12:18 AM #370673Guest[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]
What are you including in the closing costs? $1200
sounds like quite a bargain!March 20, 2009 at 12:18 AM #370787Guest[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.[/quote]
What are you including in the closing costs? $1200
sounds like quite a bargain!March 20, 2009 at 1:28 PM #370488donaldduckmoore
Participant[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.
Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]
Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is donaldduckmoore@yahoo.com.
March 20, 2009 at 1:28 PM #370773Participant[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.
Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]
Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is donaldduckmoore@yahoo.com.
March 20, 2009 at 1:28 PM #370940Participant[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.
Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]
Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is donaldduckmoore@yahoo.com.
March 20, 2009 at 1:28 PM #370983Participant[quote=davelj]I just re-financed (30-year fixed) at 4.25% + 2 points + $1200 in closing costs through BofA. So, the APR is 4.6%.
Yeah, maybe some combination of rate plus points/closing costs gets down to an APR of 4.25% on a 30-year fixed during this cycle, but I’m not taking that chance. I’m happy to leave a little on the table. But that’s just me.[/quote]
Did you go through broker or not, $1200 closing cost is pretty low for refi. Would you mind sharing more contact info pls. My email is donaldduckmoore@yahoo.com.
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