Author Topic: How low can we go? 30 yr fixed at 3.75% with no fees...  (Read 829881 times)

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Offline The California Court Company

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3180 on: January 15, 2022, 05:16:41 PM »
wait a second. Zero listing in Woodbury, 1 listing each in Cypress Village and Stonegate? didn’t know Irvine RE is still this hot. I am at peace leaving Irvine, which I feel it is overrated more and more everyday.
« Last Edit: January 15, 2022, 05:33:48 PM by The California Court Company »
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Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3181 on: January 15, 2022, 06:01:03 PM »
wait a second. Zero listing in Woodbury, 1 listing each in Cypress Village and Stonegate? didn’t know Irvine RE is still this hot. I am at peace leaving Irvine, which I feel it is overrated more and more everyday.

As of 6pm on Saturday, Jan 15th there are 84 active listings in Irvine...4 in Cypress Village, 2 in Eastwood, 2 in Stonegate, and 0 in Woodbury.
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Offline HMart

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3182 on: January 17, 2022, 03:21:22 PM »
These moves, psychologically fanning urgency for buyers to move all the quicker, to buy now more than ever.

Of course we are talking about buyers that qualified and ready to buy.

On the sell side, builders this go round would not reduce price when rates goes higher because their cost of labors and raw materials substantially higher tomorrow than today.

Resale, homeowners are not motivated to reduce price, because tomorrow price will goes higher than today.

#TOUGHTIME

The cost to build the homes is going up. Sherwin Williams is raising paint prices 12%. I'm sure everything else is rising too.

I'm currently pricing out a commercial tenant improvement job and the labor + material costs are absolutely fucking insane.

Offline Ready2Downsize

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3183 on: January 17, 2022, 03:28:55 PM »
These moves, psychologically fanning urgency for buyers to move all the quicker, to buy now more than ever.

Of course we are talking about buyers that qualified and ready to buy.

On the sell side, builders this go round would not reduce price when rates goes higher because their cost of labors and raw materials substantially higher tomorrow than today.

Resale, homeowners are not motivated to reduce price, because tomorrow price will goes higher than today.

#TOUGHTIME

The cost to build the homes is going up. Sherwin Williams is raising paint prices 12%. I'm sure everything else is rising too.

I'm currently pricing out a commercial tenant improvement job and the labor + material costs are absolutely fucking insane.

It seems there has to be a point at which companies come to the conclusion it's saving them money to have people work at home rather than having everyone in offices they have to pay for.

Offline irvinehomeowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3184 on: January 17, 2022, 05:42:50 PM »
Commercial spaces are suffering. A friend of mine went on some office tours and each property kept saying that they will configure it however they want, no problem. They've also added features like gyms, showers, reserve-able large conference space and other features to battle the WFH movement.

Commercial For Lease signs are the new Open House signs from the mid 2000s.
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Offline eyephone

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3185 on: January 17, 2022, 06:23:38 PM »
Commercial spaces are suffering. A friend of mine went on some office tours and each property kept saying that they will configure it however they want, no problem. They've also added features like gyms, showers, reserve-able large conference space and other features to battle the WFH movement.

Commercial For Lease signs are the new Open House signs from the mid 2000s.

It is all over the place. NYC commercial real estate are high as ever.

Offline Ready2Downsize

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3186 on: January 17, 2022, 06:46:57 PM »
Commercial spaces are suffering. A friend of mine went on some office tours and each property kept saying that they will configure it however they want, no problem. They've also added features like gyms, showers, reserve-able large conference space and other features to battle the WFH movement.

Commercial For Lease signs are the new Open House signs from the mid 2000s.

It is all over the place. NYC commercial real estate are high as ever.

I wonder if that is spilling over into medical offices. A number of years ago my oncologist had to move because a church owned the building and they wanted to use the offices as a clinic for low income people. Had a really hard time finding a place.

This year my opthamologist moved one of their offices to an older medical building that gave them all kinds of freebies and redid the place to their exact specifications. Place looks brand new inside. They went from 4 small exam rooms to 16 bigger exam rooms. It was so bad their old office had to use their tiny coffee/break supply room to perform retinal scans.

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3187 on: January 17, 2022, 07:01:43 PM »
Commercial spaces are suffering. A friend of mine went on some office tours and each property kept saying that they will configure it however they want, no problem. They've also added features like gyms, showers, reserve-able large conference space and other features to battle the WFH movement.

Commercial For Lease signs are the new Open House signs from the mid 2000s.

It is all over the place. NYC commercial real estate are high as ever.

I have a good friend that works as a high level analyst in the commercial RE space. He is telling me that commercial RE is very interesting in that B/C class properties cannot rent no matter how cheap they go. The Class A super luxurious offices with gyms, cafeterias, etc. are all renting sky high rents right now. It's bizarre right now.

Offline Cares

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3188 on: January 18, 2022, 08:19:34 AM »
Starting the week off with more red. Down 41 bps this morning.

Offline Soylent Green Is People

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3189 on: January 18, 2022, 09:33:09 AM »
Most 30 fixed rate preferring home buyers who are closing in February have been shifting towards the 7 and 10 ARM products. It wouldn't be a bad idea for long term rate locks to be considered if your new home build is closing April - June. Most of these products have reasonable "repricing" options (AKA "float downs") or relatively cheap upfront costs that could make sense to abandon if pricing whipsaws back to the low 3's and you wish to close with another lender.

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Offline Soylent Green Is People

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3190 on: January 26, 2022, 02:21:12 PM »
Hard day for mortgage rates. Powell and Company are actively reducing their Mortgage Backed Securities (MBS) purchase levels to rebalance the Fed's balance sheet. Treasuries will still be purchased in volume, but MBS's will for the most part be culled from the herd. It's often the case that people will watch the 10yr T as a benchmark for rate direction but it's the MBS prices that really determine mortgage rates. If you see a 10yr T rally, don't expect mortgage rates to move in the same manner.

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Offline Compressed-Village

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3191 on: January 26, 2022, 07:08:46 PM »
The heat is on for the FED and chopped the MBS purchase is neccessary for the hot running real estate sector. If anyone think jackup rate to reduce purchase price for residential is in for a rude awakening. Builders are having a hard time pulling their supplies to fullfil projects. This will translate to higher prices and much longer delivery time. Ask anyone on the list waiting for delivery and if they haven't have to ask for wait additional time because of several delays, sometimes by several months, they will be notify soon.


I feel for today buyers. Its a bitch.


Offline irvinehomeowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3192 on: February 02, 2022, 01:30:46 PM »
So who is Cake?

I hear their ads on the radio now.

Kind of replaced Owning (who is now part of Guaranteed Rate).
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Offline Soylent Green Is People

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3193 on: February 03, 2022, 02:42:37 PM »

The Goog-le has this: https://www.thetruthaboutmortgage.com/cake-mortgage-review/

Their transparency is a bit overstated. Today (2/3/2022) for an $800k rate and term refinance on a $1m owner occupied SFR, Cake shows a 3.875% rate with a "cost" of $1,688. However........

A) One might say "WOW" that's a low cost. Drill down into the actual fees and find that $1,688 is the discount point only, not escrow, title, lender fees, etc. At the end of it the "cost" isn't $1,688 but $5,554. This is only if you impound - adding another $2,000 to your closing cost moving the needle above $7k.

or

B) One might say "WOW", that's really out of the market because I can go to Wells, or BofA, or Union Bank and get 3.375% with zero fees because they are not using FNMA Agency money, but balance sheet jumbo stuff.


Details.... details.... that's where the Devil lives.
« Last Edit: February 03, 2022, 07:04:26 PM by Soylent Green Is People »
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Offline irvinehomeowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #3194 on: February 03, 2022, 09:15:07 PM »
I like it when the insiders tell me what Google can't.

I guess Owning still advertises... just heard one of their ads where the interest rate is fixed at 1.99% for the first 10 years (I guess this is 10/1 ARM?).
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
FCB: Foreign Cash Buyer
I recommend:
www.irvinerealtorsite.com
member: Soylent Green Is People (loans/refis)

 

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