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Mortgage rates

Old 01-22-2008, 03:06 PM
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Default Mortgage rates

have dropped to 5.375 for 30 year fixed locally with no points!
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Old 01-22-2008, 04:02 PM
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Default Re: Mortgage rates

From who?
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Old 01-22-2008, 04:08 PM
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Default Re: Mortgage rates

That is good. My mortgage is 4.75%. 7 more years to go!
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Old 01-22-2008, 04:11 PM
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Default Re: Mortgage rates

That sounds around right. I do loans in CA, and we are also at 5.375% with no points for a standard 30-year fixed as of this afternoon. I expect things to move even lower over the next few months. CA rates are usually a little higher than east coast rates, I don't know why.

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Old 01-22-2008, 04:32 PM
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Default RE: Mortgage rates

Keep droppin'

Now, if I can just sell the one I am in (very few lookers in 2 mos on market), I can break ground on the new one/mortgage. 2.5% would be nice.


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Old 01-22-2008, 04:39 PM
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Default RE: Mortgage rates

B-Faithful - 1/22/2008 3:06 PM

have dropped to 5.375 for 30 year fixed locally with no points!
That's what I got 4 1/2 years ago.
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Old 01-22-2008, 05:21 PM
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GREAT, now maybe someone will buy my house in Virginia which has been on the market for 7 months...
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Old 01-22-2008, 06:21 PM
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Holy smokes! That's awesome. Now, if my credit wasn't so screwed from the last two years of juggling debt due to my idiotic land purchases, I would be able to re-fi my house! Seriously, thanks for the head's up. Wonder what the fifteen year rate is? I have seriously regreted not doing a 15 year note on my house 5 years ago, when I moved in. I wonder if it's worth re-financing to a 15 year now, or another 30 year and make extra payments? Time to get out the old calculator again!
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Old 01-22-2008, 06:36 PM
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Default Re: Mortgage rates

I had two people promise me those rates. One was my bank, suntrust, and the other is a buddy who owns a mortgage brokerage
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Old 01-22-2008, 06:55 PM
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Yup - we sell office equipment to different businesses all over the US - we've seen a surprisingly high number of inquiries in the last week from independent mortgage companies who tanked last year but are already coming back. We had a large delivery today to a mortgage company in NJ - and the owner told us to expect rates IN THE 4 PERCENT RANGE later this year. Man - it just doesn't take long anymore to bounce back. If this is the case I'll go to work for them - they'll be lots of refinancing happening and lots of commissions made. What a country!
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Old 01-23-2008, 03:44 AM
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It is a dependable cycle. I have 3 years left on a 7 year arm at 4.625 from the last drop in rates. If I can lock into a 15 around 4.5% at some point it will be a no-brainer. My guess is it will happen in April or May during the traditional start to home buying season.
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Old 01-23-2008, 04:54 AM
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JAGSARE1 - 1/22/2008 4:08 PM

That is good. My mortgage is 4.75%. 7 more years to go!
Dag on that's good, I've got 8 years left on a 5.25%. Never wished my life away but in 8 years both kids should be thru college and the house paid off. Should be able to breath a lot easier, check that, I forgot about our staggering inflation rate. I'll probably be in the same boat. (pun intended)
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Old 01-23-2008, 06:08 AM
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Default Re: Mortgage rates

4.75% is the current 15 year loan with no points.
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Old 01-23-2008, 06:12 AM
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B-Faithful - 1/23/2008 9:08 AM

4.75% is the current 15 year loan with no points.
Where?
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Old 01-23-2008, 06:18 AM
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RI Builder - 1/23/2008 9:12 AM

B-Faithful - 1/23/2008 9:08 AM

4.75% is the current 15 year loan with no points.
Where?
A couple local mortgage brokers. Suntrust gave me the 30 rate of 5.375 but local brokers are telling me that 5.31 or maybe better.
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Old 01-23-2008, 07:42 AM
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Default Re: Mortgage rates

I have a Question!!
I am about 3years into a 15year fixed 5.75% with 125,000.00 left. Would it be worth refinancing now? Could I refinance and take money to pay other debts ie. Cridt cards?
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Old 01-23-2008, 07:46 AM
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Default Re: Mortgage rates

I just locked in a 5.25% for 30years... no points or hidden fees. He is a good fisherman and a friend who has done my last 3 mortgages:

John Rivers
President/Senior Mortgage Consultant
Consumer Trust Mortgage
1214 West Street, 2nd Floor
Annapolis, MD 21401
410.212.0000 cell
410.384.9663 office
410.384.9636 fax
443.458.0471 efax
jr@ct-mtg.com


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Old 01-23-2008, 07:48 AM
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Corona Nights - 1/23/2008 10:42 AM

I have a Question!!
I am about 3years into a 15year fixed 5.75% with 125,000.00 left. Would it be worth refinancing now? Could I refinance and take money to pay other debts ie. Cridt cards?
Lots of variables. your age, value of home, how much you have in savings, income, etc. Meet with your financial advisor.
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