Rate update! 30 YR Fixed back to 5.00%

[EconProf]

I’d bet on steadily lower rates for at least the next six months as the recession casts it deflationary pall over everything.
Until recently, I was a believer in inflation in the long term ultimately driving interest rates higher. But the deflationary atmosphere is just too powerful, and even the government’s upcoming massive deficit spending and the Fed’s loose monetary policy is, so far anyway, not enough to offset the psychology of deflation.
And yet, if I were a mortgage lender, I wouldn’t make a 30-year loan at 5%, or 6%, or 7%. Inflation’s day will come.

[peterb]

I think inflations day has come and gone. That’s why so many people have a hard time understanding and accepting deflation. Deflation’s something they’ve never really experienced as fiat currency countries have forced an inflationary world on us. But we’ve had huge inflation since 2002. Mostly in the form of incredible credit/debt growth. Which is now imploding. And this is causing deflation. $30T lost in the markets this year, $3T in housing valuation, credit card defaults soaring and now unemployment gaining as well. There’s no where for the consumer to turn for access to funds and wages have downward pressure. But real wages have not been rising for many years. This is the end game to a consumer driven economy. The US is now at a point where it has to add value and produce something that is valuable to others.

I think we’ll be in a deflationary mode for some time to come. Look at all that’s been lost and the easy credit that’s gone. And will probably not be coming back for some time.

[peterb]

I think inflations day has come and gone. That’s why so many people have a hard time understanding and accepting deflation. Deflation’s something they’ve never really experienced as fiat currency countries have forced an inflationary world on us. But we’ve had huge inflation since 2002. Mostly in the form of incredible credit/debt growth. Which is now imploding. And this is causing deflation. $30T lost in the markets this year, $3T in housing valuation, credit card defaults soaring and now unemployment gaining as well. There’s no where for the consumer to turn for access to funds and wages have downward pressure. But real wages have not been rising for many years. This is the end game to a consumer driven economy. The US is now at a point where it has to add value and produce something that is valuable to others.

I think we’ll be in a deflationary mode for some time to come. Look at all that’s been lost and the easy credit that’s gone. And will probably not be coming back for some time.

[peterb]

I think inflations day has come and gone. That’s why so many people have a hard time understanding and accepting deflation. Deflation’s something they’ve never really experienced as fiat currency countries have forced an inflationary world on us. But we’ve had huge inflation since 2002. Mostly in the form of incredible credit/debt growth. Which is now imploding. And this is causing deflation. $30T lost in the markets this year, $3T in housing valuation, credit card defaults soaring and now unemployment gaining as well. There’s no where for the consumer to turn for access to funds and wages have downward pressure. But real wages have not been rising for many years. This is the end game to a consumer driven economy. The US is now at a point where it has to add value and produce something that is valuable to others.

I think we’ll be in a deflationary mode for some time to come. Look at all that’s been lost and the easy credit that’s gone. And will probably not be coming back for some time.

[peterb]

I think inflations day has come and gone. That’s why so many people have a hard time understanding and accepting deflation. Deflation’s something they’ve never really experienced as fiat currency countries have forced an inflationary world on us. But we’ve had huge inflation since 2002. Mostly in the form of incredible credit/debt growth. Which is now imploding. And this is causing deflation. $30T lost in the markets this year, $3T in housing valuation, credit card defaults soaring and now unemployment gaining as well. There’s no where for the consumer to turn for access to funds and wages have downward pressure. But real wages have not been rising for many years. This is the end game to a consumer driven economy. The US is now at a point where it has to add value and produce something that is valuable to others.

I think we’ll be in a deflationary mode for some time to come. Look at all that’s been lost and the easy credit that’s gone. And will probably not be coming back for some time.

[peterb]

I think inflations day has come and gone. That’s why so many people have a hard time understanding and accepting deflation. Deflation’s something they’ve never really experienced as fiat currency countries have forced an inflationary world on us. But we’ve had huge inflation since 2002. Mostly in the form of incredible credit/debt growth. Which is now imploding. And this is causing deflation. $30T lost in the markets this year, $3T in housing valuation, credit card defaults soaring and now unemployment gaining as well. There’s no where for the consumer to turn for access to funds and wages have downward pressure. But real wages have not been rising for many years. This is the end game to a consumer driven economy. The US is now at a point where it has to add value and produce something that is valuable to others.

I think we’ll be in a deflationary mode for some time to come. Look at all that’s been lost and the easy credit that’s gone. And will probably not be coming back for some time.

[HLS]

What is the APR for this loan? (Assume a 300k loan, with $2500 in third party fees plus your fees).
[/quote]

Coop…
What is included in APR is figured differently by diff mortgage people. It’s a terrible way to shop for a loan.

The APR that is on your actual loan docs will be accurate or too high. If it is quoted too low, it is a legal loophole to be able to rescind the loan in the future.

When you shop by APR, you are only seeing estimates.

In your example above, my APR estimate would be 5.096% as accurate as I know.
Certain fees should not be figured to determine the APR. > HLS

[HLS]

What is the APR for this loan? (Assume a 300k loan, with $2500 in third party fees plus your fees).
[/quote]

Coop…
What is included in APR is figured differently by diff mortgage people. It’s a terrible way to shop for a loan.

The APR that is on your actual loan docs will be accurate or too high. If it is quoted too low, it is a legal loophole to be able to rescind the loan in the future.

When you shop by APR, you are only seeing estimates.

In your example above, my APR estimate would be 5.096% as accurate as I know.
Certain fees should not be figured to determine the APR. > HLS

[HLS]

What is the APR for this loan? (Assume a 300k loan, with $2500 in third party fees plus your fees).
[/quote]

Coop…
What is included in APR is figured differently by diff mortgage people. It’s a terrible way to shop for a loan.

The APR that is on your actual loan docs will be accurate or too high. If it is quoted too low, it is a legal loophole to be able to rescind the loan in the future.

When you shop by APR, you are only seeing estimates.

In your example above, my APR estimate would be 5.096% as accurate as I know.
Certain fees should not be figured to determine the APR. > HLS

[HLS]

What is the APR for this loan? (Assume a 300k loan, with $2500 in third party fees plus your fees).
[/quote]

Coop…
What is included in APR is figured differently by diff mortgage people. It’s a terrible way to shop for a loan.

The APR that is on your actual loan docs will be accurate or too high. If it is quoted too low, it is a legal loophole to be able to rescind the loan in the future.

When you shop by APR, you are only seeing estimates.

In your example above, my APR estimate would be 5.096% as accurate as I know.
Certain fees should not be figured to determine the APR. > HLS

[HLS]

What is the APR for this loan? (Assume a 300k loan, with $2500 in third party fees plus your fees).
[/quote]

Coop…
What is included in APR is figured differently by diff mortgage people. It’s a terrible way to shop for a loan.

The APR that is on your actual loan docs will be accurate or too high. If it is quoted too low, it is a legal loophole to be able to rescind the loan in the future.

When you shop by APR, you are only seeing estimates.

In your example above, my APR estimate would be 5.096% as accurate as I know.
Certain fees should not be figured to determine the APR. > HLS

[enron_by_the_sea]

HLS:
Does the 15-year fixed still goes for lower interest rate than 30-year? What is the best rate on 15-year fixed? (conforming, good credit, <80% LTV)

[enron_by_the_sea]

HLS:
Does the 15-year fixed still goes for lower interest rate than 30-year? What is the best rate on 15-year fixed? (conforming, good credit, <80% LTV)

[enron_by_the_sea]

HLS:
Does the 15-year fixed still goes for lower interest rate than 30-year? What is the best rate on 15-year fixed? (conforming, good credit, <80% LTV)

[enron_by_the_sea]

HLS:
Does the 15-year fixed still goes for lower interest rate than 30-year? What is the best rate on 15-year fixed? (conforming, good credit, <80% LTV)

[Author]

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