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Old 03-17-2010, 06:18 PM
 
739 posts, read 2,135,895 times
Reputation: 362

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I'm about three weeks out from closing on my home. My mortgage is still floating at 4.75% on a 30-year fixed loan. I read the following today:

"If you are sitting on the fence hoping for lower rates, I would strongly encourage you to get moving now. Lenders continue to be reluctant to lower rates below 4.75%. Additionally, these low rates will not stay around forever."

My question is this, have any of you heard of mortgage rates lower than 4.75% over the last 12 months on a 30-year fixed, conventional loan with good credit?
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Old 03-17-2010, 06:46 PM
 
Location: The Greater Houston Metro Area
9,053 posts, read 17,197,318 times
Reputation: 15226
No
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Old 03-17-2010, 07:15 PM
 
809 posts, read 3,569,575 times
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Who gave you that rate? I was recently quoted 5.125%.
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Old 03-17-2010, 07:18 PM
 
Location: Tricity, PL
61,699 posts, read 87,101,195 times
Reputation: 131673
This is a very good rate. Greed kills...
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Old 03-17-2010, 08:48 PM
 
958 posts, read 2,573,859 times
Reputation: 827
I just closed 2 weeks ago with a 4.875% rate. 4.75% is a killer rate, heck anything below 5% is really good. Don't be greedy, it will only go up from here.
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Old 03-17-2010, 09:12 PM
 
739 posts, read 2,135,895 times
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Quote:
Originally Posted by AlexTx View Post
Who gave you that rate? I was recently quoted 5.125%.
Amerisave
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Old 03-17-2010, 09:16 PM
 
739 posts, read 2,135,895 times
Reputation: 362
Quote:
Originally Posted by predatorprey View Post
I just closed 2 weeks ago with a 4.875% rate. 4.75% is a killer rate, heck anything below 5% is really good. Don't be greedy, it will only go up from here.
Ok, y'all convinced me. I'm locking in the morning. Scheduled to close early April.
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Old 03-17-2010, 09:23 PM
 
Location: San Antonio-Westover Hills
6,884 posts, read 20,405,752 times
Reputation: 5176
Quote:
Originally Posted by pdouglas View Post
Ok, y'all convinced me. I'm locking in the morning. Scheduled to close early April.
Two questions:

Are you paying points on that rate?

What is the actual APR %?
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Old 03-17-2010, 09:26 PM
 
739 posts, read 2,135,895 times
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Quote:
Originally Posted by Mom2Feebs View Post
Two questions:

Are you paying points on that rate?

What is the actual APR %?
1% loan origination fee

4.93% APR
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Old 03-17-2010, 09:46 PM
 
Location: San Antonio-Westover Hills
6,884 posts, read 20,405,752 times
Reputation: 5176
Quote:
Originally Posted by pdouglas View Post
1% loan origination fee

4.93% APR
The origination fee isn't a point. If you're not paying any points, and that's your APR, definitely go for it! That's terrific.
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