Author Topic: How low can we go? 30 yr fixed at 3.75% with no fees...  (Read 470307 times)

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Offline Irvinehomeseeker

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2055 on: February 13, 2020, 07:23:08 PM »
I paid some kinda of flat fee back in 2016 for refi ( may be 699). This time they were willing to reduce the flat fee to 775$ and then 499$....I guess you can negotiate.

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Online eyephone

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2056 on: February 13, 2020, 08:15:41 PM »
But owning.com refi is freeee! (according to the ads and members on TI)

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2057 on: February 13, 2020, 09:37:15 PM »
Free, free free free.
Once you go 3-car garage... your junk can never go back.
3CWG: 3-Car Wide Garage
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Offline aquabliss

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2058 on: February 14, 2020, 05:05:58 PM »
Did Cash Call Mortgage always have the $995 flat fee?

I refi’d with them in 2017 they had no fee back then. 

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Offline OCtoSV

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2059 on: February 18, 2020, 02:11:39 PM »
Jumbo conforming 15 yr at 2.99%, zero cost (lender credit covers them), no appraisal  - Sunnyhill Financial

Offline Irvinehomeseeker

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2060 on: February 18, 2020, 07:35:03 PM »
Completed refi with Cashcall today....very smooth process and I paid zero fees, no appraisal too. My original loan was at the rate of 4.25 .After multiple refi, I have now brought it down to 3.25. Just thought I will share

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Offline Irvinity

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2061 on: February 18, 2020, 10:29:15 PM »
Did the 3.25 rate sail away? We tried calling a few agents over the weekend, and the last couple days and could only get 3.375.

Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2062 on: February 21, 2020, 02:46:54 PM »
Did the 3.25 rate sail away? We tried calling a few agents over the weekend, and the last couple days and could only get 3.375.

No way, we are heading to 3% on the 30-year fixed rate this year.
Martin Mania, CPA
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Often imitated....Never duplicated!

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Offline Kings

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2063 on: February 21, 2020, 03:06:05 PM »
Did the 3.25 rate sail away? We tried calling a few agents over the weekend, and the last couple days and could only get 3.375.

No way, we are heading to 3% on the 30-year fixed rate this year.

just sprinkle a little more coronavirus on it

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 #2064 on: February 21, 2020, 03:12:49 PM »
Never say Never - which makes little sense because I just said "never".... - but I digress....

Pretty solid rally in Treasuries today, even though mortgage rates are not based on the 10-Yr T. Indications are through the movement of the 10 year T that rates will indeed fall some, but we have to see improvement in the MBS market as well.

Some may have read this from me before, but for those who have not: "Fridays are a terrible day to price loans". The reason? Aggressive on Friday means rate changing news can erode value/pricing on Saturday and Sunday. Come Monday, Friday's aggressive rate quotes may be of zero worth to the funding lender's investors. due to profit margin compression. Example: What happens if Mayor Pete or Biden pull off an amazing upset in Nevada on Saturday? What might that do to rates? What if a vaccine to cure this Coronavirus is made available? See the issue? Bad news is good news for rates. Good news is bad news for rates. Much can happen over the weekend which is why pricing today, after a nice rally, hasn't really sweetened at all.

We should see those at 3.375 (standard conforming/50% LTV/ on-line lenders) move to 3.25 Monday, providing margins are still good and no impactful news hits during the weekend.

My .02c

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Offline woodburyowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2065 on: February 21, 2020, 09:02:57 PM »
Guys, check out lenderfi.com.  Rate is now 3.125% no fee (ie. negative points) for 30 year fixed conventional.

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Offline alphag

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2066 on: February 22, 2020, 08:25:42 PM »
Guys, check out lenderfi.com.  Rate is now 3.125% no fee (ie. negative points) for 30 year fixed conventional.

I went to check the rate at lenderfi.com just now and 3.125% for 15 yrs, not 30 years and has a -ve points: -$1,608.  It also has a closing cost of $1,608.  So you pay no closing cost for refi.

I just did a refi two weeks ago, the rate is the same but I have a credit of -$2800 and the closing cost was $2200.  I had $-600 at closing.  Rate is 3.125% for 15 years.  Guess my deal is much better than lenderfi.com. 

Offline USCTrojanCPA

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2067 on: February 22, 2020, 10:55:39 PM »
Guys, check out lenderfi.com.  Rate is now 3.125% no fee (ie. negative points) for 30 year fixed conventional.

I went to check the rate at lenderfi.com just now and 3.125% for 15 yrs, not 30 years and has a -ve points: -$1,608.  It also has a closing cost of $1,608.  So you pay no closing cost for refi.

I just did a refi two weeks ago, the rate is the same but I have a credit of -$2800 and the closing cost was $2200.  I had $-600 at closing.  Rate is 3.125% for 15 years.  Guess my deal is much better than lenderfi.com. 

Why not refi into or 7-year or 10-year ARM if it's in the 2%s instead when you plan on paying off your home in less than 15 years?  The thought is that you can make your payment the same as a 15-year fixed payment so with a lower rate you will accelerate the payoff to less than 15 years and any interest rate risk would be minimized.   
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

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Offline woodburyowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2068 on: February 22, 2020, 11:29:45 PM »
Guys, check out lenderfi.com.  Rate is now 3.125% no fee (ie. negative points) for 30 year fixed conventional.

I went to check the rate at lenderfi.com just now and 3.125% for 15 yrs, not 30 years and has a -ve points: -$1,608.  It also has a closing cost of $1,608.  So you pay no closing cost for refi.

I just did a refi two weeks ago, the rate is the same but I have a credit of -$2800 and the closing cost was $2200.  I had $-600 at closing.  Rate is 3.125% for 15 years.  Guess my deal is much better than lenderfi.com. 

I'm inputting <50% LTV to match owning.com's quoted rate requirements. 

Offline woodburyowner

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Re: How low can we go? 30 yr fixed at 3.75% with no fees...
« Reply #2069 on: February 22, 2020, 11:33:44 PM »
Why not refi into or 7-year or 10-year ARM if it's in the 2%s instead when you plan on paying off your home in less than 15 years?  The thought is that you can make your payment the same as a 15-year fixed payment so with a lower rate you will accelerate the payoff to less than 15 years and any interest rate risk would be minimized.   

Right now, ARMs are only priced aggressively for loan sizes above the conforming limits and even better for jumbo loan sizes.  Anything within the conventional limit will have an ARM rate almost the same as a 30 year fixed.

 

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