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Old 01-09-2018, 01:49 PM
 
Location: Phoenix, AZ area
2,921 posts, read 2,376,060 times
Reputation: 3350

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Looking at maybe selling and buying a new primary residence. Anyone in the industry able to give me the current rates for a $350k value 12% down (including MI) and 20% down? Excellent credit and no debts.

Feel free to PM me if you don't want to respond publicly.
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Old 01-10-2018, 09:33 PM
 
Location: MID ATLANTIC
7,589 posts, read 17,587,935 times
Reputation: 8065
Need to wait until rates issued tomorrow. I could give you a quote, but its likely I would be taking it back with a "sorry, rates went up." Lots of action today on the 10 year, looked like rates were going to take off , but late in the day they settled down. You are missing some info, state or zip code? condo? Number of days needed? Some areas are eligible for below market rates with no income caps. I will try to remember to check back - it's hard to remember once you get wrapped up in the workday- CD is my guilty pleasure and rarely do I log in during the business day. But I am sure a couple of quotes will be by. .
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Old 01-11-2018, 10:02 AM
 
Location: Phoenix, AZ area
2,921 posts, read 2,376,060 times
Reputation: 3350
SFH in AZ, not entirely sure on time frame just checking things out right now so 2-10 weeks probably.
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Old 01-11-2018, 09:01 PM
 
Location: MID ATLANTIC
7,589 posts, read 17,587,935 times
Reputation: 8065
Rates are tenuous at best. Yesterday, the Chinese announced (or they made it clear) they weren't buying any US debt. This caused the rates to edge up for a 5th day in a row. A weak report on the economy kind of stopped things from going higher. Keep an eye on the economy. The better our economy does, the higher rates go. After tomorrow, we are probably going to get a break from the upward climb. Tune your ears to inflation news (CPI or Consumer Price Index). As inflation climbs, it gives the Fed room to take rates up higher (like they've been dying to do for at least 5 year).

The 10 year today is 2.545% and the 30 year rates are running 4.125% to 4.375%. But if you are contemplating this, I would recommend sooner than later. As rates rise, you as a seller may need to help buyers with costs. I would take advantage of the timing, especially if inventory is low in your community. I've accused the talking heads of crying wolf for almost 10 years now. My money is on this is it, rates will finally climb this year (not runaway) and edge up over the next couple years (But in a narrow range, maybe 5%, to possibly 6%, and over years, not months). No need to panic....As rates head up,sellers give up more to buyers (but you will be a seller, too).

Don't let rates be your deciding factor, they will continue to shift-shape. Know why you are doing this and follow through. The rates and loan programs will follow. Things always have a way of coming out the right way.
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