Well Mortgage rates hit an all time low today, besting the lowest rates in 15 years and lower than last Feb when rates bottom'd out. How low? Well today it hit 30yr fixed Conventional ($100,000 min loan amount) at 6.125% with 1.5 points or 6.5 and no points/no orgination fee. And, for those of you refinancing down to a 15 year mortage, it was at 5.5% today with 1.5 pts for loans between 100K and 150K, for 150K plus cost was only 1 pt or less. The stock market is not doing so well and that means money flows into Bonds which in turns makes rates lower for Mortgages, so will it go lower? hard to say, but locking now would be a good idea, the savings could be huge on the largest investment you will ever make. I refinanced back in Nov 2001 to 15yr at 5.875 and I am amazed at how fast my principal decreases...I am looking forward to retiring at 52 when my home is free and clear.
Please don't PM me to do your loans
unless you live in VA, NC, or MD...just talk to your local loan officer, and I always recommend a good mortgage "broker" over direct banks and mortgage companies since they can usually get you the best rate, but as always shop around. GL
Please don't PM me to do your loans
unless you live in VA, NC, or MD...just talk to your local loan officer, and I always recommend a good mortgage "broker" over direct banks and mortgage companies since they can usually get you the best rate, but as always shop around. GL
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