Mortgage Rates Below 5% Are Gone for Good - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - Page 3 - City-Data Forum

donalduckmoore · 08-11-2009, 07:19 PM

If more evidence shows our recession is really over, then 30 yr fixed rate below 5% is highly unlikely to happen in the near future. My 2 cents.

TimtheGuy · 08-17-2009, 08:33 AM

Quote:

Originally Posted by donalduckmoore

If more evidence shows our recession is really over, then 30 yr fixed rate below 5% is highly unlikely to happen in the near future. My 2 cents.

Well at least you don't call yourself a Sr. Economist like the bankrate guy. Par rate for me today is 4.875% on a 15 day lock and between 4.875% and 5.0% for a 30 day lock. May even get a re-price better as the day goes on if stocks continue to drop.

zulu400 · 08-17-2009, 09:02 AM

Quote:

Originally Posted by TimtheGuy

Well at least you don't call yourself a Sr. Economist like the bankrate guy. Par rate for me today is 4.875% on a 15 day lock and between 4.875% and 5.0% for a 30 day lock. May even get a re-price better as the day goes on if stocks continue to drop.

I got a 60 day lock with no points last week before the market crashed for 5.375 on an FHA loan. I hope we see a sub 5% rate this week on the FHA too so that I can float down.... (FHA usually is about 0.25-0.50 % more than the conventional loans).

calel · 08-17-2009, 12:16 PM

Oh, I hope that's true in a perverse sort of way. I was getting a wee bit concerned that I was going to miss out on the really good rates by waiting too long, but it still sucks that the stock market is dropping as that affects my assets too. 0.o

PokerMunkee · 08-17-2009, 12:23 PM

I am locking in for 5.25% (5% Conventional) and won't close until first week of October. So I have a little over a month to relock in a better rate.

ShayLove · 08-17-2009, 07:58 PM

I just got word today, I got a 120 day lock-in for 5.25% on a FHA

Bette · 08-17-2009, 08:13 PM

but that 5.250 on a 120 day lock is good.....

MDtech123 · 08-18-2009, 01:43 PM

Im at 5.330 on an FHA today, but have not locked yet. I am "rate protected" with my bank so the max would be 5.6 for me.

VictorBurek · 08-18-2009, 06:37 PM

Rates yesterday and today were under 5%, so goes to show you want the economists knows.

pburgess68 · 08-18-2009, 06:45 PM

It's 5.5% for a USDA loan right now, or so we were told by our bank lender. We SHOULD be closing in the next 3 weeks. He's encouraging us to not lock in yet. The recession definitely is NOT over in our neck of the woods. Unemployment is extremely high and housing is still in a slump. Our local USDA office says it should take 3-4 DAYS to process our loan, when it usually takes that amt in WEEKS.