Mr Mortgage: Mortgage Rates Soar

[waterboy]

For those of you not needing a 30yr fixed, SDCCU has a 7/1 ARM at 4.875 (0 pts and orig) and its the same for either 30 or 40 year amoritization. By far the best 7yr I’ve seen and they have low lender fees of $595 plus appraisal and the other typical 3rd party fees.

The 5/1 ARM is 4.75 but might as well choose the 7yr

[(former)FormerSanDiegan]

The title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?

I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!

[(former)FormerSanDiegan]

The title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?

I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!

[(former)FormerSanDiegan]

The title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?

I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!

[(former)FormerSanDiegan]

The title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?

I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!

[(former)FormerSanDiegan]

The title Mr. Mortgage uses: “MORTGAGE RATES SOAR”
to describe rates going back up to 5.5% seems pretty ridiculous to me. How many months over the past 40 years have rates been as low as 5.5% ?

I don’t disagree that a 10% increase in the mortgage rate from 5 to 5.5% is significant. But come on!

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[HLS]

[quote=waterboy] 7/1 ARM at 4.875 [/quote]

For most people, Thinking that you only need a 7 YR ARM at the same rate as a 30 YR fixed, to save a few dollars on closing costs is only something that a foolish person would even consider..

[DWCAP]

I kinda wondered about this before, but I wonder if he was using the Average loan %. Article here says that the average home loan percentage was 5.22% last week.

“Fixed 30-year mortgage rates averaged 5.22% in the week, down from 5.24% the previous week and 4.89% in early January, the MBA said”

While Mr Morgage was still wrong (it isnt 5.5%)from what I can tell, the average is up about a third of a point from its lows.

[DWCAP]

I kinda wondered about this before, but I wonder if he was using the Average loan %. Article here says that the average home loan percentage was 5.22% last week.

“Fixed 30-year mortgage rates averaged 5.22% in the week, down from 5.24% the previous week and 4.89% in early January, the MBA said”

While Mr Morgage was still wrong (it isnt 5.5%)from what I can tell, the average is up about a third of a point from its lows.

[DWCAP]

I kinda wondered about this before, but I wonder if he was using the Average loan %. Article here says that the average home loan percentage was 5.22% last week.

“Fixed 30-year mortgage rates averaged 5.22% in the week, down from 5.24% the previous week and 4.89% in early January, the MBA said”

While Mr Morgage was still wrong (it isnt 5.5%)from what I can tell, the average is up about a third of a point from its lows.

[DWCAP]

I kinda wondered about this before, but I wonder if he was using the Average loan %. Article here says that the average home loan percentage was 5.22% last week.

“Fixed 30-year mortgage rates averaged 5.22% in the week, down from 5.24% the previous week and 4.89% in early January, the MBA said”

While Mr Morgage was still wrong (it isnt 5.5%)from what I can tell, the average is up about a third of a point from its lows.

[Author]

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