Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
No points. My broker said I could just keep floating because there could be a bump down at some point, but I was tired of the uncertainty.
That's a great rate. Can you tell us which location and how much down payment? Is this a jumbo or non jumbo rate?
Another broker gave me a 4.875% with 0.4 points today with 20% downpayment, Seminole County FL (Orlando area). I locked in last Friday at 4.875% with 0.7 points. Not bad for Friday but I heard the rates dropped today.
Basically cost myself $1000 in points fees because of the drop but overall still happy with the rate I got on Friday. But I'm about 31 days before closing on my house so I got peace of mind at a rate I could live with.
Can't win them all. Just happy rate is less than 5%. Some of my friends are at 6% fix and they aren't winning to refinance again until the rate drops to 4.5% zero points (may or may not happen) because of costs.
Need to be careful about floating and getting the "lowest rate"....
Understand that rates right now are trading with a range that has not been seen since Feddie Mac began keeping track 37 years ago. Getting the lowest possible rate is admirable just make sure that it makes sense with your overall financial and life situation...long and short term...
Just my two cents...
by the way rates were re-priced today - they went up...getting a handle on when the best time to is like nailing jello to the wall...
1. Just because you locked in 4.625% with no points doesnt mean there aren't any lender fees. Some lenders don't consider an 1% origination fee as a 1% discount point.
Also, some lenders say no points but if your loan is at 140k, and they charge a 1400 commitment fee? it will still equal to 1 point
2. Just because you were told it was going to be no points or 4.625% doesnt mean that's what it's going to be on paper
3. Just because you receive it on a Good Faith 'Estimate' doesnt mean this is what you're going to receive at closing.
Today's rates, and the past week's rates are NOWHERE NEAR 4.625% with no points on a 30yr fixed mortgage.
It was Primary Lending, which usually sells the mortgages to Wells Fargo. It was a 30-year, and I didn't buy down points.
Congratulations!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
which bank???????????????
