Mortgage Rates?

dude i doubt anyone here can tell you if rates will go up or down. It's just anyone's guess. But I think its safe to say that rates will not be moving significantly up or down in the next week or two. Worst case scenario rates vary by .25% max from week to week.

 

I would look closly at the GFE you got from the mortgage guy and find out what exactly you are paying to get that rate. That rate looks like one that comes with high fees and may or may not be a good deal.

 

This.

If you think the monthly mortgage looks fine just lock it. Worst case scenario the monthly difference is going to be + or - 10 bucks or so. If that's gonna make or break you you shouldn't be purchasing a new home anyways.

 

Rates are at historic lows...I was locked in at 4.25 a few weeks ago with 0 points. They have fallen more since.

 

refinanced ours at 3.87 last week...from 5.87...whew!

 

how much was your closing costs to refinance, if you don't mind me asking.

 

I need to refinance a heloc. anyone getting these awesome rates from chase? don't wanna have to come up with a new escrow in the interim of closing the deal.

 

Wow! Nice! Grats!

 

Last Wednesday had the lowest rates in years. It gradually went up the next two days and stayed about the same for most of the morning today, but then it got worse in the afternoon.

I don't think you'll see any dramatic swings in the next week or so.

You really have to do the math yourself on some of these stuff. Sometimes paying a small bit of closing cost in exchange for a lower rate is worth it if you're not planning on doing any refi for a while.

That's some dramatic swing for going up one level. You should probably ask how long they were planning on locking your rate, as different periods have different penalties on the credits you're receiving from the bank to pay your closing cost. They're probably busy and planning on doing a 45-day or more lock on your rate.

 

4k. We also bought a point @ 1K.

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Thanks, Xerobull

 

Yep, we are in the process of refinancing ours from 6.375% to a lower interest rate...still undecided if we want to change to 15 year loan which means lower interest rate but higher closing costs and monthly payments.

 

We went from a 30 year to a 15 year and only increased our monthly by $70. Of course we did this after our initial down and principles passed 20%, which allows us to pay our own insurances and taxes.

The whole idea is to have our 3 homes paid off in 10 years...about the time I'll be thinking about retiring.

 

I'm going to be buying my first home sometime in the next 3 months. Looking for some advice about lending. Should I really just focus on who has the lowest rate? Are things like building a relationship with a particular bank/credit union, or looking into customer service, not really an issue?

 

Just refinanced to 4.8 from 5.8. No closing costs. (You win, but I kept the 30yr)

 

no closing costs? How did you do that?

 

Chase has my mortgage, and they offered the new rate with no closing costs, i.e., Chase paid them.

How did I get that offer? Not really sure honestly.

 

In process of refinancing at 3.85% from 5.375%(from 30 year to 15 year) locked in two weeks ago. Only issue I am having is Home owners association is refusing to sign a subordination agreement. Not real sure what that is, but the finance company says we can get around it by going to a different title company.

According to my lender, rates have been going from 3.75% to 4.25% over the last month.

Good luck!