Mortgage Rates Looking Very Attractive Again

[waterboy]

Jumbo purchase at SDCCU is 5.875% at 0pts & orig. Their lender fees are only $595. Add .25% for refinance

[equalizer]

[quote=davelj][quote=equalizer][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 lock today, or have you already closed?

I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

[/quote]

I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.[/quote]

That would be my signature firebrand satire in case anyone hasn’t picked that up in my 3 years of posting here. Mocking the savagery with 9 words is better than a tiring diatribe.

Who knew that “losers” walking away with a $200K loss for the lenders or the unbridled trading on these loans for instant commission would nearly bankrupt our society.

Agree that locking in 4.6% on 30 years is crazy for lender side.

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[equalizer]

[quote=davelj][quote=equalizer][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 lock today, or have you already closed?

I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

[/quote]

I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.[/quote]

That would be my signature firebrand satire in case anyone hasn’t picked that up in my 3 years of posting here. Mocking the savagery with 9 words is better than a tiring diatribe.

Who knew that “losers” walking away with a $200K loss for the lenders or the unbridled trading on these loans for instant commission would nearly bankrupt our society.

Agree that locking in 4.6% on 30 years is crazy for lender side.

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[equalizer]

[quote=davelj][quote=equalizer][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 lock today, or have you already closed?

I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

[/quote]

I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.[/quote]

That would be my signature firebrand satire in case anyone hasn’t picked that up in my 3 years of posting here. Mocking the savagery with 9 words is better than a tiring diatribe.

Who knew that “losers” walking away with a $200K loss for the lenders or the unbridled trading on these loans for instant commission would nearly bankrupt our society.

Agree that locking in 4.6% on 30 years is crazy for lender side.

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[equalizer]

[quote=davelj][quote=equalizer][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 lock today, or have you already closed?

I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

[/quote]

I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.[/quote]

That would be my signature firebrand satire in case anyone hasn’t picked that up in my 3 years of posting here. Mocking the savagery with 9 words is better than a tiring diatribe.

Who knew that “losers” walking away with a $200K loss for the lenders or the unbridled trading on these loans for instant commission would nearly bankrupt our society.

Agree that locking in 4.6% on 30 years is crazy for lender side.

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[equalizer]

[quote=davelj][quote=equalizer][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 lock today, or have you already closed?

I got ripped off at 4.7% APR refi few months ago. Should have waited for 4%. Now I have no choice but to walk away or ask for a bailout.

[/quote]

I locked yesterday. If rates go to 4%, so be it. Again, I’m not trying to bottom-tick anything. Anyone lending anyone else money for 4.6% fixed for 30 years is making a bad trade, although the degree to which the trade is bad for the lender may not be known for a few years.

If you feel ripped off because you didn’t bottom-tick your re-fi, would you turn around and pay a higher rate if fixed rates went to 6.5% in the future? Or does the “rip-off” only work in one direction? Just curious.[/quote]

That would be my signature firebrand satire in case anyone hasn’t picked that up in my 3 years of posting here. Mocking the savagery with 9 words is better than a tiring diatribe.

Who knew that “losers” walking away with a $200K loss for the lenders or the unbridled trading on these loans for instant commission would nearly bankrupt our society.

Agree that locking in 4.6% on 30 years is crazy for lender side.

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[equalizer]

[quote=massey][quote=equalizer]
Except sellers just read your post and will raise prices a little, maybe 5%.
[/quote]

Fat chance of that strategy succeeding right now.

It’s a buyer’s market. If it weren’t there would be no need for the fed to monetize debt to push the rates so low in the first place. At best this will “stabilize” the prices where they are now. Net effect, though, is a discount to the buyer. Isn’t it cool how the Fed can force all these self-deluding owners to discount their properties without their consent or participation?

[/quote]
meant a little bit tongue in cheek, but don’t discount the delusions of sellers. Have heard of multiple offers on Mira Mesa homes and foreclosures in Chula Vista that are down 40%+ from purchase price. And this was months ago before rates dropped. Everyone loves a 40-50% off sale. Must be a great deal. They are not building any more.

[equalizer]

[quote=massey][quote=equalizer]
Except sellers just read your post and will raise prices a little, maybe 5%.
[/quote]

Fat chance of that strategy succeeding right now.

It’s a buyer’s market. If it weren’t there would be no need for the fed to monetize debt to push the rates so low in the first place. At best this will “stabilize” the prices where they are now. Net effect, though, is a discount to the buyer. Isn’t it cool how the Fed can force all these self-deluding owners to discount their properties without their consent or participation?

[/quote]
meant a little bit tongue in cheek, but don’t discount the delusions of sellers. Have heard of multiple offers on Mira Mesa homes and foreclosures in Chula Vista that are down 40%+ from purchase price. And this was months ago before rates dropped. Everyone loves a 40-50% off sale. Must be a great deal. They are not building any more.

[equalizer]

[quote=massey][quote=equalizer]
Except sellers just read your post and will raise prices a little, maybe 5%.
[/quote]

Fat chance of that strategy succeeding right now.

It’s a buyer’s market. If it weren’t there would be no need for the fed to monetize debt to push the rates so low in the first place. At best this will “stabilize” the prices where they are now. Net effect, though, is a discount to the buyer. Isn’t it cool how the Fed can force all these self-deluding owners to discount their properties without their consent or participation?

[/quote]
meant a little bit tongue in cheek, but don’t discount the delusions of sellers. Have heard of multiple offers on Mira Mesa homes and foreclosures in Chula Vista that are down 40%+ from purchase price. And this was months ago before rates dropped. Everyone loves a 40-50% off sale. Must be a great deal. They are not building any more.

[equalizer]

[quote=massey][quote=equalizer]
Except sellers just read your post and will raise prices a little, maybe 5%.
[/quote]

Fat chance of that strategy succeeding right now.

It’s a buyer’s market. If it weren’t there would be no need for the fed to monetize debt to push the rates so low in the first place. At best this will “stabilize” the prices where they are now. Net effect, though, is a discount to the buyer. Isn’t it cool how the Fed can force all these self-deluding owners to discount their properties without their consent or participation?

[/quote]
meant a little bit tongue in cheek, but don’t discount the delusions of sellers. Have heard of multiple offers on Mira Mesa homes and foreclosures in Chula Vista that are down 40%+ from purchase price. And this was months ago before rates dropped. Everyone loves a 40-50% off sale. Must be a great deal. They are not building any more.

[equalizer]

[quote=massey][quote=equalizer]
Except sellers just read your post and will raise prices a little, maybe 5%.
[/quote]

Fat chance of that strategy succeeding right now.

It’s a buyer’s market. If it weren’t there would be no need for the fed to monetize debt to push the rates so low in the first place. At best this will “stabilize” the prices where they are now. Net effect, though, is a discount to the buyer. Isn’t it cool how the Fed can force all these self-deluding owners to discount their properties without their consent or participation?

[/quote]
meant a little bit tongue in cheek, but don’t discount the delusions of sellers. Have heard of multiple offers on Mira Mesa homes and foreclosures in Chula Vista that are down 40%+ from purchase price. And this was months ago before rates dropped. Everyone loves a 40-50% off sale. Must be a great deal. They are not building any more.

[davelj]

[quote=equalizer]

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[/quote]

Again, I personally have no problem with what we deem “insider trading.” I don’t engage in it, but I don’t mind if others do. With respect to the buying and selling of assets, I think it’s best to assume that (1) the other party is trying to screw you, and (2) unless you’re damn sure of the contrary, the other party likely has a better understanding of the asset than you do. I’m not sure if that answered your question, as I’m not sure what “cheating” you’re referring to (aside form insider trading).

[davelj]

[quote=equalizer]

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[/quote]

Again, I personally have no problem with what we deem “insider trading.” I don’t engage in it, but I don’t mind if others do. With respect to the buying and selling of assets, I think it’s best to assume that (1) the other party is trying to screw you, and (2) unless you’re damn sure of the contrary, the other party likely has a better understanding of the asset than you do. I’m not sure if that answered your question, as I’m not sure what “cheating” you’re referring to (aside form insider trading).

[davelj]

[quote=equalizer]

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[/quote]

Again, I personally have no problem with what we deem “insider trading.” I don’t engage in it, but I don’t mind if others do. With respect to the buying and selling of assets, I think it’s best to assume that (1) the other party is trying to screw you, and (2) unless you’re damn sure of the contrary, the other party likely has a better understanding of the asset than you do. I’m not sure if that answered your question, as I’m not sure what “cheating” you’re referring to (aside form insider trading).

[davelj]

[quote=equalizer]

[satire alert]
As you stated something like, “But we we have to live in the world that is, not the one we dream of.” So should we just learn to cheat like these losers and others at Goldman with their “insider trading” info?

[/quote]

Again, I personally have no problem with what we deem “insider trading.” I don’t engage in it, but I don’t mind if others do. With respect to the buying and selling of assets, I think it’s best to assume that (1) the other party is trying to screw you, and (2) unless you’re damn sure of the contrary, the other party likely has a better understanding of the asset than you do. I’m not sure if that answered your question, as I’m not sure what “cheating” you’re referring to (aside form insider trading).

[Author]

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