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Mortgage rates for remainder of year?

SagaLore

SagaLore

Elite Member
Last week I read a thread about how low the rates were, but it also mentioned this week they were going to drop again. So I was going to call my lender and get the paperwork started to refinance my mortgage. Unfortunately the guy I was working with is now out for the holidays, as I'm sure most staff are. I just checked this evening and the rates dropped again from when I checked them last night.

What are the chances these rates will go back up by end of year?
 
Darn it! I missed locking in yesterday.

Are there any chances of these rates dropping again in January? Or is there a better chance they'll start rising again?
 
I locked in yesterday at 5.125 for a 20 year, no points, and at 95% LTV. I missed the boat on the 4.875 🙁

I won't close till the first week in February and have the ability to lock in at a lower rate if it does drop.

It feels wierd refinancing for only 2-3 years (we'll be building) but with the refi we are doing a double squeeze - lowering amortization schedule down by 10 years plus dropping our current rate by almost a full 2%. We'll pay down almost another $15,000 in principal over that time AND keep our monthly payment the same as it is right now.
 
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*







* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
 
what banks are you all using? I can't seem to find anything on Bankrate in NC and I'd love to refi my 7% 30year fixed to something around 5.5% for 15 years. If it falls under 5% that'd be even more awesome.
 
Originally posted by: AmigaMan
what banks are you all using? I can't seem to find anything on Bankrate in NC and I'd love to refi my 7% 30year fixed to something around 5.5% for 15 years. If it falls under 5% that'd be even more awesome.
Click to expand...

For a 15 year fixed, you should be able to find something under 5% right now. I locked in at 4.875% a couple of weeks ago on a 30 year fixed.
 
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*







* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

4.375% for a 30 year fixed? Any points?
 
Man, looks like I'll be missing the boat. I'm currently at 6.125 and my bank is offering a 5% 30yr fixed. Unfortunately, our home value sank like a rock and I now owe about 50K more than what the house is worth...I don't think I'll be able to refinance for a long time. :-(
 
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*

* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

is that 80% of the current loan, or 80% of the current value?
 
Originally posted by: HardcoreRobot
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*

* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

is that 80% of the current loan, or 80% of the current value?
Click to expand...

bump - and Ocguy31 which bank and mind sharing your broker's contact info.? I'm in CA, 700+ FICO, and at 5.625%.
 
Originally posted by: Capt Caveman
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*







* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

4.375% for a 30 year fixed? Any points?
Click to expand...

That is at par, meaning you arent paying money to lower the rate. However, you will still have the usual closing costs.

 
Originally posted by: LordSnailz
Originally posted by: HardcoreRobot
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*

* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

is that 80% of the current loan, or 80% of the current value?
Click to expand...

bump - and Ocguy31 which bank and mind sharing your broker's contact info.? I'm in CA, 700+ FICO, and at 5.625%.
Click to expand...


Ill PM you.


@ robot: 80% of your home's current value. You can go over that, but then you have PMI.
 
Originally posted by: Ocguy31
Originally posted by: LordSnailz
Originally posted by: HardcoreRobot
Originally posted by: Ocguy31
Just an update folks: Here in CA I am now locking loans a 4.375 at par today. Unbelievable.........


Anyone with a 700+ FICO, under 80% owed on the home, and in a 5.375+ rate should really consider jumping in here pretty soon. You can really save alot of money*

* If you find an honest Loan Officer. They are out there, but I work with them everyday and a bunch are bad.
Click to expand...

is that 80% of the current loan, or 80% of the current value?
Click to expand...

bump - and Ocguy31 which bank and mind sharing your broker's contact info.? I'm in CA, 700+ FICO, and at 5.625%.
Click to expand...


Ill PM you.


@ robot: 80% of your home's current value. You can go over that, but then you have PMI.
Click to expand...
yeah figured. have two loans, one at 5.85 and one at 6.5. been paying down the 6.5 very agressively. would love to refi to one loan at current rates, but house value has been falling as fast as the extra payments.
 
I am currently locked in at PenFed at 4.625 on a 20. This will be a refi of a 6.25/30 (that has 25 years left). I'm a happy man.
 
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