Mortgage rates at all time low

[vi edit]

Locked in on Friday for 30 years @ 3.75%. I was only 14 months into my 30 years on the original and between the rate and what we paid down we'll be saving almost $300 a month.

Would love to do a 15 year loan, but two day care bills make that too hard right now.

 

[DougK62]

I can't believe these rates keep going lower. Just a couple of weeks ago I closed on a 15 year refi at 3.250. Now my same bank is offering it at 2.875. Wow.

 

[Vic Vega]

Locked in on Friday for 30 years @ 3.75%. I was only 14 months into my 30 years on the original and between the rate and what we paid down we'll be saving almost $300 a month.

Would love to do a 15 year loan, but two day care bills make that too hard right now.

Nice work. Same boat with daycare. We'll pay ours off early but sticking with the 30 year gives us some breathing room. Once the kids are in school we'll start paying it down hardcore.

 

[Vic Vega]

I can't believe these rates keep going lower. Just a couple of weeks ago I closed on a 15 year refi at 3.250. Now my same bank is offering it at 2.875. Wow.

Can they even pay themselves with that rate? Keeerist. Obviously I'm not a bank but if someone asked to borrow money from me for 30 years at 2.8% I'd laugh in their face.

 

[spidey07]

Can they even pay themselves with that rate? Keeerist. Obviously I'm not a bank but if someone asked to borrow money from me for 30 years at 2.8% I'd laugh in their face.

10 year treasury yields are still below 2%. They're still making plenty of money.

You shouldn't laugh in their face, you should glady take all that free money.

 

[AMDZen]

My ARM changed from 2.5% to 2.375% for 2012

Still undecided on if I should refi for a fixed rate since my FHA ARM is so good

 

[spidey07]

New record low - 3.87%

 

[FoBoT]

gonna have to call my mortgage holder soon
i hesitate because i think i read that the 'VA streamline re-fi' was changed.
when i re-fi'ed in 2008 or 2009, it was super easy, i just called citibank , they did everything, no appraisal was needed for the 'VA streamline re-fi'. basically a few weeks after calling them a lady came buy with a butt load of paper to sign and that was it. the next month my mortgage payment was ~$100 less

 

[manimal]

New record low - 3.87%

Just sick!

 

[spidey07]

Just sick!

I've mentioned it a few times in this thread. What is REALLY sick is the amortization tables. See what they look like at 3.87% or 3.75%.

 

[Leymenaide]

I have two refi going and they are doing everything they can to make them not work. They drag their feet and keep wanting more infor and what you send them is never right. I have been working with Wells F.

 

[Gothgar]

I really should do a refi, on a higher interest 15 year, in year 3 of the loan. I could refi to a new 15 and probably pay double payments.

 

[Wyndru]

I have two refi going and they are doing everything they can to make them not work. They drag their feet and keep wanting more infor and what you send them is never right. I have been working with Wells F.

I've done 2 refi's in the past 4 years (HSBC and Met), and know 3 people currently going through the process as well and it's always the same thing. Whenever the masses start refinancing they banks have a ton of issues getting it done. The drag their feet and make a ton of mistakes.

The last refinance I did with HSBC they actually took so long that the rate expired and they ended up giving us a higher rate. This was all because we didn't stay on top of them every step of the way. I just figured that they were backlogged, and it would get done eventually. I didn't think they would actually go beyond the holding time of the rate lock. The last time I refi'd with met I called them every few days just to avoid that again.

I want to refinance, but it's been such a pain in the ass in my experience.

 

[Omegachi]

i just bought a place with a rate at 3.75% no points.

 

[HopJokey]

I'm just worried about home prices once (if ever) the interest rates go back up. It seems though that the Fed is insistent on keeping the rates low at least until 2014.

 

[overst33r]

Locked in on Friday for 30 years @ 3.75%. I was only 14 months into my 30 years on the original and between the rate and what we paid down we'll be saving almost $300 a month.

Would love to do a 15 year loan, but two day care bills make that too hard right now.

i just bought a place with a rate at 3.75% no points.

What lender are you guys using to get 3.75%? I assume 20% down?

 

[purbeast0]

What lender are you guys using to get 3.75%? I assume 20% down?

yea i'm currently first time home house hunting and we found a lender that doesn't require 20% down and does not require PMI (Navy Federal). however since we don't have any collateral or anything, and were looking at around like 5% down or so, the rate we were locked in at in November (before we backed out of buying our house) was 4.75%.

i wonder if we can get even lower than that now once we do find the house we want to purchase.

 

[vi edit]

What lender are you guys using to get 3.75%? I assume 20% down? overst33r is online now Add Infraction for overst33r Report Post IP

I'm using a local bank. 20% down, but the kick to the crotch is that since they are going through Fanny/Freddie I guess there is some new law in place that if you aren't at 75% LTV then you have to pay some lame ass $800 "delivery" fee on top of the banks closing costs.

So 75% is the new 80% to prevent total reaming on fees.

 

[Leymenaide]

I've done 2 refi's in the past 4 years (HSBC and Met), and know 3 people currently going through the process as well and it's always the same thing. Whenever the masses start refinancing they banks have a ton of issues getting it done. The drag their feet and make a ton of mistakes.

The last refinance I did with HSBC they actually took so long that the rate expired and they ended up giving us a higher rate. This was all because we didn't stay on top of them every step of the way. I just figured that they were backlogged, and it would get done eventually. I didn't think they would actually go beyond the holding time of the rate lock. The last time I refi'd with met I called them every few days just to avoid that again.

I want to refinance, but it's been such a pain in the ass in my experience.

They hit me with a higher rate yesterday and I an looking for a new bank today plus letters to State Banking commision and and my Congressman.

 

[alent1234]

checking for rates for in-laws and no bank seems to want to give a low LTV loan in brooklyn NYC

 

[Omegachi]

What lender are you guys using to get 3.75%? I assume 20% down?

I am using provident funding associates, L.P.

I did a refi on my condo too, from 5.75 to 3.25% at 15 yrs w/ 1 point. that was with a local bank.

 

[Fingolfin269]

What kind of rates can one expect with putting something less than 20% down? I'll be buying soon but know we won't be at that level of down payment. Additional info: Excellent credit and payment expectations will keep us well inside any % norms.

 

[Wyndru]

They hit me with a higher rate yesterday and I an looking for a new bank today plus letters to State Banking commision and and my Congressman.

Good for you, I should have written some letters too. I swear some of these banks do this on purpose.

 

[PimpJuice]

I am using provident funding associates, L.P.

I did a refi on my condo too, from 5.75 to 3.25% at 15 yrs w/ 1 point. that was with a local bank.

is the condo a rental property? Did you not have to get a business loan since its not your primary residence?

 

[Train]

What kind of rates can one expect with putting something less than 20% down? I'll be buying soon but know we won't be at that level of down payment. Additional info: Excellent credit and payment expectations will keep us well inside any % norms.

IANAE, but I believe lately, down payments don't do shit. I've heard of people being offered the same rate at 0% down as 20% down.