Forum Replies Created
-
AuthorPosts
-
HLS
ParticipantRust,
I have multiple sources to check. There are huge spreads every day between lenders.
Rates change constantly. If you want to check my rates then contact me. If you aren’t comparing rates at the same moment, then you may not be comparing apples to apples.
I have had online rates change while on the phone with borrowers.
Different lenders have different rates all day long.It also depends on the rest of the closing costs that you are charged.
My wholesale + 1 point could easily be less than Wells + 1/2 point.
ParticipantIf you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
ParticipantIf you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
ParticipantIf you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
ParticipantIf you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
ParticipantIf you want to call the rate that a wholesale
lender doesn’t pay a penny in commission the PAR rate, then yes.The borrower pays a fee to get the lowest rate OR they can choose a higher rate and have the lender rebate pay all or part of the costs.
It is in most people’s best interest to have a lower rate and lower payment from inception, for the life of the loan.
For those that want to gamble on timing and constantly refinancing, that’s their choice.
There is a national financial guru that tells people to never pay a fee to refinance, and ask for the PAR rate, which HE tells people is a rate that comes with no points. It’s incorrect info fed to average people further confusing them.
ParticipantI don’t know if rates are going up or down, I leave that to others to predict. I just tell people the truth about where they currently are.
I also tell people that if you can predict rates correctly, you should trade bonds on Wall Street.
You will make so much money that you can pay cash for a house and not be bothered with a mortgage.
It’s a lot harder than you think to predict rates correctly. Even many “experts” are wrong.
I’d also say that 30 YR fixed mortgage rates are more likely to go up a point or two from here than go down a point or two.
When rates get back near 6%, I can already hear people telling me that they wish they would have refi’d when they had the chance below 5% instead of holding out for a 1/4 of a point lower.
ParticipantI don’t know if rates are going up or down, I leave that to others to predict. I just tell people the truth about where they currently are.
I also tell people that if you can predict rates correctly, you should trade bonds on Wall Street.
You will make so much money that you can pay cash for a house and not be bothered with a mortgage.
It’s a lot harder than you think to predict rates correctly. Even many “experts” are wrong.
I’d also say that 30 YR fixed mortgage rates are more likely to go up a point or two from here than go down a point or two.
When rates get back near 6%, I can already hear people telling me that they wish they would have refi’d when they had the chance below 5% instead of holding out for a 1/4 of a point lower.
ParticipantI don’t know if rates are going up or down, I leave that to others to predict. I just tell people the truth about where they currently are.
I also tell people that if you can predict rates correctly, you should trade bonds on Wall Street.
You will make so much money that you can pay cash for a house and not be bothered with a mortgage.
It’s a lot harder than you think to predict rates correctly. Even many “experts” are wrong.
I’d also say that 30 YR fixed mortgage rates are more likely to go up a point or two from here than go down a point or two.
When rates get back near 6%, I can already hear people telling me that they wish they would have refi’d when they had the chance below 5% instead of holding out for a 1/4 of a point lower.
ParticipantI don’t know if rates are going up or down, I leave that to others to predict. I just tell people the truth about where they currently are.
I also tell people that if you can predict rates correctly, you should trade bonds on Wall Street.
You will make so much money that you can pay cash for a house and not be bothered with a mortgage.
It’s a lot harder than you think to predict rates correctly. Even many “experts” are wrong.
I’d also say that 30 YR fixed mortgage rates are more likely to go up a point or two from here than go down a point or two.
When rates get back near 6%, I can already hear people telling me that they wish they would have refi’d when they had the chance below 5% instead of holding out for a 1/4 of a point lower.
ParticipantI don’t know if rates are going up or down, I leave that to others to predict. I just tell people the truth about where they currently are.
I also tell people that if you can predict rates correctly, you should trade bonds on Wall Street.
You will make so much money that you can pay cash for a house and not be bothered with a mortgage.
It’s a lot harder than you think to predict rates correctly. Even many “experts” are wrong.
I’d also say that 30 YR fixed mortgage rates are more likely to go up a point or two from here than go down a point or two.
When rates get back near 6%, I can already hear people telling me that they wish they would have refi’d when they had the chance below 5% instead of holding out for a 1/4 of a point lower.
ParticipantRay, I’m not sure what your problem is and I’m not intimidated by who said it.
The comments above are factual and qualified.
He didn’t state average rates or anything misleading or bogus. He clearly states that they MAY push rates lower.The FACT is that the 10 YR bond is up 16% since Tuesday (2 trading days) which is an indicator of mortgage rates. Rates closed higher this week, back near 5%.
Therefore you can look forward to the report about average rates from average reporters geared to average people to show that the average rates will be well off their recent lows.
ParticipantRay, I’m not sure what your problem is and I’m not intimidated by who said it.
The comments above are factual and qualified.
He didn’t state average rates or anything misleading or bogus. He clearly states that they MAY push rates lower.The FACT is that the 10 YR bond is up 16% since Tuesday (2 trading days) which is an indicator of mortgage rates. Rates closed higher this week, back near 5%.
Therefore you can look forward to the report about average rates from average reporters geared to average people to show that the average rates will be well off their recent lows.
ParticipantRay, I’m not sure what your problem is and I’m not intimidated by who said it.
The comments above are factual and qualified.
He didn’t state average rates or anything misleading or bogus. He clearly states that they MAY push rates lower.The FACT is that the 10 YR bond is up 16% since Tuesday (2 trading days) which is an indicator of mortgage rates. Rates closed higher this week, back near 5%.
Therefore you can look forward to the report about average rates from average reporters geared to average people to show that the average rates will be well off their recent lows.
-
AuthorPosts
