How low can we go? 30 yr fixed at 3.75% with no fees...

Called owning.com today and it's already @ 2.99 with 1/2 points now. they refused to run a report on me unless i am absolutely going with them.  I got a quote from them on Thursday @ 2.625 with 0 point. That's no longer available due to the new rule applies to Freddie Mac & Mae.
Chase current could offer @ 3.00 @ 0.144 points, approx 4k closing  still debating whether if makes sense for me to refi or not.  i am current @ 3.25% with Chase.
 
JCnOC,
What is your loan amount? It may not make sense going from 3.25% to 2.99% with 1/2 a point. What is your current annual interest? Your decision will depend on the size of the loan. Currently in the process of re-financing at 2.5%.
 
JCnOC said:
Called owning.com today and it's already @ 2.99 with 1/2 points now. they refused to run a report on me unless i am absolutely going with them.  I got a quote from them on Thursday @ 2.625 with 0 point. That's no longer available due to the new rule applies to Freddie Mac & Mae.
Chase current could offer @ 3.00 @ 0.144 points, approx 4k closing  still debating whether if makes sense for me to refi or not.  i am current @ 3.25% with Chase.
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Going from 2.625% with 0 points to 2.99% with 1/2 point is quite the huge jump. They are essentially taking you to 3.125% with 0 points so gave you a 0.5% rate increase for 0.5 cost increase? They are gouging you if this is the quote they are giving you.
 
JCnOC.

Going from 3.25 to 3.0, you are just saving $1518.4/year .. $126/month in interest. With half a point your cost for the loan has increased $2920. If you pay down the loan by $46720, your interest payments per year will be same as 2.99%. I don't think I would refinance at 2.99%, the margins are just not big enough to justify.
 
@ Panda
Thanks for your feedback, that?s what I thought too, not making any sense to do the refi. 

Does it make sense to go with Chase on 3% with 0.114 points apr @3.0102. Closing cost $4k ?

Perhaps I should wait next week to see what happen?

@Cares,

I?ll check more lenders next week to see what others can offer. I emails owning the rate Chase offering and called them back and the guy never called me back cuz I was arguing with hi why he couldn?t honor the rate he quote this morning. He was upfront  with me saying that he doesn?t want to waste anybody time cuz they have so many loans to proceed.
 
This is why when a rate is good enough you just need to pull the trigger. The extra savings from trying to that extra .125 isn?t worth missing out on a good rate.
 
This is why disclosures always say something like "Rates and terms subject to change without notice".

There still are incredible deals to be had. We're still locked in a long term low rate environment. Best strategy now is to get what you can, while you can.

My .02c
 
For those of you who ReFi'd recently, are you still meeting the notary in person during COVID?  I think I'm hitting the final docs and notarization portion of my ReFi this coming week - just curious how this has been working for others?
 
Yes, notary came to the house, masked.  After clearing the last online hurdle I was asked to input a few open timeslots in our calendar and the notary called to make an appt within a day.
 
It was a hot day so we set up a table and chairs in the garage and did the signing there with the side door and garage door open.

The notary was very glad to do the signing there and arrived wearing a mask and gloves.
 
Notary and Appraisal both in person. Like others noted, my last signing I did in my garage with door open. I have also seen folks do the signing outdoor in shopping center like one family that I saw just outside of Trader Joes in Woodbury towncenter.
I wanted to avoid in person appraisal for my current refi but could not get the appraisal waved....That's the one I dislike the most.
 
zovall said:
It was a hot day so we set up a table and chairs in the garage and did the signing there with the side door and garage door open.

The notary was very glad to do the signing there and arrived wearing a mask and gloves.
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Wasn't it hot in the garage even with the doors open? Our garage is like an oven.
 
irvinehomeowner said:
Wasn't it hot in the garage even with the doors open? Our garage is like an oven.
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It was at 10am so it wasn't too bad. And we signed as quickly as we could (no questions on the docs - I had reviewed them electronically earlier) so I think we got it all done in 30 minutes or so.
 
irvinehomeowner said:
zovall said:
It was a hot day so we set up a table and chairs in the garage and did the signing there with the side door and garage door open.

The notary was very glad to do the signing there and arrived wearing a mask and gloves.
Click to expand...

Wasn't it hot in the garage even with the doors open? Our garage is like an oven.
Click to expand...

Maybe it should be signed electronically?
 
eyephone said:
irvinehomeowner said:
zovall said:
It was a hot day so we set up a table and chairs in the garage and did the signing there with the side door and garage door open.

The notary was very glad to do the signing there and arrived wearing a mask and gloves.
Click to expand...

Wasn't it hot in the garage even with the doors open? Our garage is like an oven.
Click to expand...

Maybe it should be signed electronically?
Click to expand...

You can't sign documents that need to be notarized electronically (at least not yet) but I won't know why the other loan documents couldn't be signed electronically.
 
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