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Old 02-19-2008, 03:29 PM
 
4,542 posts, read 11,544,610 times
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Interest rate pricing continues to worsen. Just received my 2nd reprice worse today from one investor. 30 yr. fixed is now in the 6.25% range. Quite a change from 2 weeks ago.
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Old 02-19-2008, 03:31 PM
 
31 posts, read 91,386 times
Reputation: 19
I too get same price , but mine is only 3% down
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Old 02-19-2008, 08:42 PM
 
Location: Boca Raton, FL
4,851 posts, read 8,319,922 times
Reputation: 5483
Smile So sick of the repricing

Give these poor people who need to refinance a break and keep the rates in the 5's!!!
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Old 02-20-2008, 07:11 AM
 
908 posts, read 3,380,753 times
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Yeah, we are about to lock in on a rate, since our closing is scheduled for March 25th.
Yesterday our lender quoted us 6.375%, up from 5.625% just 2 weeks ago (this is BofA's No Fee Mortgage). We couldn't lock then though because we weren't within the lock period.

Now our lender is recommending we lock immediately, before rates get out of hand. What do you guys think, based on our closing date?
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Old 02-20-2008, 09:01 AM
 
4,542 posts, read 11,544,610 times
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Quote:
Originally Posted by Go Blue 99 View Post
Yeah, we are about to lock in on a rate, since our closing is scheduled for March 25th.
Yesterday our lender quoted us 6.375%, up from 5.625% just 2 weeks ago (this is BofA's No Fee Mortgage). We couldn't lock then though because we weren't within the lock period.

Now our lender is recommending we lock immediately, before rates get out of hand. What do you guys think, based on our closing date?
Too much volatility. Impossible to say.
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Old 02-20-2008, 09:59 AM
DMX
 
46 posts, read 220,558 times
Reputation: 25
Quote:
Originally Posted by Go Blue 99 View Post
Yeah, we are about to lock in on a rate, since our closing is scheduled for March 25th.
Yesterday our lender quoted us 6.375%, up from 5.625% just 2 weeks ago (this is BofA's No Fee Mortgage). We couldn't lock then though because we weren't within the lock period.

Now our lender is recommending we lock immediately, before rates get out of hand. What do you guys think, based on our closing date?
In my experience, even though BoFA has 'no fees', their rates are a tick higher than Wells Fargo. So, the 'fees' somehow gets collected from you, but masked with a higher rate.

I would suggest you get the LOWEST possible rate, even if you have to pay some (reasonable) fee now. It is best for the long run.
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Old 02-20-2008, 10:14 AM
 
Location: Woodbridge Twp NJ
316 posts, read 1,116,621 times
Reputation: 60
Unhappy Need rate to drop one more time.

Quote:
Originally Posted by TimtheGuy View Post
Interest rate pricing continues to worsen. Just received my 2nd reprice worse today from one investor. 30 yr. fixed is now in the 6.25% range. Quite a change from 2 weeks ago.

I want to Cry rates are so bad Hoping for the fed meeting today will help.
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Old 02-20-2008, 10:23 AM
 
4,542 posts, read 11,544,610 times
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Quote:
Originally Posted by DMX View Post
I would suggest you get the LOWEST possible rate, even if you have to pay some (reasonable) fee now. It is best for the long run.
You have to know a person's whole financial picture and goals before you can make such recomendations.

No matter who you do your mortgage with you can always get a lower rate with higher costs or a higher rate with less/no fees. There will also be many options in the middle which is where most people end up.
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Old 02-20-2008, 06:53 PM
 
Location: WA
319 posts, read 1,715,226 times
Reputation: 135
What is the best way to predict interest rates over the course of a year? We're looking at buying sometime this year, but would try for sooner, or put it off more, if the rates would vary significantly.
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Old 02-21-2008, 08:51 AM
 
908 posts, read 3,380,753 times
Reputation: 434
Just our luck. We locked last night, and now the 10 Year note is down 3.14% today. Any reason for such a high drop? Haven't seen updated rates but there is probably a decent drop.
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