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12-05-2008, 02:58 AM
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Senior Member
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Join Date: Aug 2008
Location: Plano, Texas
684 posts, read 381,095 times
Reputation: 153
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Quote:
Originally Posted by wankel7
Wow, with the talks of 4.5% I am going to be refinancing a few months after I buy my first house at 5.5% :P
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The news that you are hearing about the Treasury offering a 4.5% mortgage is pertaining to new purchase loans only. However, rates for refinancing with some lenders today were under 5%. |
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12-05-2008, 08:06 AM
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Senior Member
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Join Date: Feb 2008
966 posts, read 552,098 times
Reputation: 543
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Quote:
Originally Posted by joe moving
which bank?
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Suntrust Bank
Looks like rates popped back up to 5.25%. Still very good. |
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12-05-2008, 01:22 PM
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Senior Member
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Join Date: Nov 2007
Location: Las Vegas
202 posts, read 194,033 times
Reputation: 44
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Quote:
Originally Posted by VictorBurek
The news that you are hearing about the Treasury offering a 4.5% mortgage is pertaining to new purchase loans only. However, rates for refinancing with some lenders today were under 5%.
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Any idea when this would happen or if it's actually going to happen? |
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12-05-2008, 01:47 PM
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Senior Member
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Join Date: Feb 2008
966 posts, read 552,098 times
Reputation: 543
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You can get a 4.8xx% 30 yr rate by some banks/lenders *IF* you are willing to pay 2 pts for the loan. Always need to look at the points you will be required to pay, the fees associated, etc. There is no free lunch in the mortgage world.
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12-05-2008, 04:10 PM
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Senior Member
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Join Date: Sep 2006
Location: Northern NJ
1,597 posts, read 1,370,592 times
Reputation: 198
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pretty sure lottamoxie is talking about 0 points?
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12-05-2008, 09:42 PM
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Senior Member
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Join Date: Feb 2008
966 posts, read 552,098 times
Reputation: 543
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Quote:
Originally Posted by joe moving
pretty sure lottamoxie is talking about 0 points?
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On a 4.8xxx% rate? Nope. The ones I've seen in my state (North Carolina) do have points associated with them.
The rate I'm getting (5.125%) has zero points. |
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12-06-2008, 08:53 AM
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Senior Member
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Join Date: Sep 2006
Location: Northern NJ
1,597 posts, read 1,370,592 times
Reputation: 198
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sorry Ive been staring at mortgage rates too long this week.... going nuts. Just missed out on 5.25 0 pts yesterday. I will sit on it!
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12-06-2008, 09:27 AM
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You Asked For It - You Got It!
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Join Date: Jul 2008
Location: West, Southwest, East & Northeast
3,446 posts, read 1,597,580 times
Reputation: 735
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My son is looking for a 30 Yr fixed rate jumbo loan in Dallas. Since he is an attorney he qualifies for the specially designed loans for attorneys, doctors and CPAs. He's looking at 10% down with 1 point. The best he's found so far (two weeks ago) is 6.375%. Has anyone heard anything lower?
I'm guessing that jumbo loans will likely drop somewhat following the decrease in conventional loan rates we're hearing about in the news even though jumbo loans are not backed by Fannie or Freddie. Do any of you mortgage experts think they will?
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12-07-2008, 03:23 PM
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Somewhere - it's all in the attitude!
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Join Date: Jan 2007
Location: Boca Raton, FL
1,414 posts, read 991,429 times
Reputation: 478
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Jumbo loans
The market for jumbo loans is just sitting there waiting. I am hoping they will drop but nothing yet. Still way too high for jumbos.
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12-07-2008, 03:50 PM
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You Asked For It - You Got It!
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Join Date: Jul 2008
Location: West, Southwest, East & Northeast
3,446 posts, read 1,597,580 times
Reputation: 735
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Quote:
Originally Posted by Bette
The market for jumbo loans is just sitting there waiting. I am hoping they will drop but nothing yet. Still way too high for jumbos.
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What would you consider as not being "way too high" if conventional loan rates drop to say 4.5%? |
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