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

qwerty said:
Irvinecommuter said:
Almost regretting that I refinanced...Europe is apparently melting down and everyone wants US T-bills.

10 year yield down to 1.71 with 30 year fixed rates at 3.60.
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im getting the pricing tomorrow morning, the loan rep said the rate could be better than 2.5% with closing costs covered.
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Any luck?  My recent experience is lock at the end of a two day Dow tailspin which would've been yesterday.  2.375% at no cost hasn't been achieved in awhile per broker.  We've been close but it will cost about a $1000 to close.
 
A Job 1:21 day... The Lord gives, the Lord taketh away... blessed be the name of the Lord.

Most lenders repriced for the worse this AM, with a follow up mid day. Much of today's price action is more of an issue with the mortgage market getting ahead of itself (2 solid days of improvements), as well as the looming weekend, where tape bombs other uncontrolled events can move markets.

Monday should be interesting to see if the trend lower continues or if we've reached a near term bottom.
 
ps9 said:
qwerty said:
Irvinecommuter said:
Almost regretting that I refinanced...Europe is apparently melting down and everyone wants US T-bills.

10 year yield down to 1.71 with 30 year fixed rates at 3.60.
Click to expand...

im getting the pricing tomorrow morning, the loan rep said the rate could be better than 2.5% with closing costs covered.
Click to expand...

Any luck?  My recent experience is lock at the end of a two day Dow tailspin which would've been yesterday.  2.375% at no cost hasn't been achieved in awhile per broker.  We've been close but it will cost about a $1000 to close.
Click to expand...

No luck. Came back at 2.75 with a 2200 credit. So no go.
 
So the mortgage rate went up despite Swiss central bank's bomb.

For the last year, Euro against USD is declining steadily, which kind of mirrors the general trend of US 30 year fixed mortgage rate.

Not sure what we will see next week. ECB may announce a new QE program.

It gets even better after that. Greece may drop another bomb soon after the ECB meeting.

I believe we are in a fun ride.
 
qwerty said:
ps9 said:
qwerty said:
Irvinecommuter said:
Almost regretting that I refinanced...Europe is apparently melting down and everyone wants US T-bills.

10 year yield down to 1.71 with 30 year fixed rates at 3.60.
Click to expand...

im getting the pricing tomorrow morning, the loan rep said the rate could be better than 2.5% with closing costs covered.
Click to expand...

Any luck?  My recent experience is lock at the end of a two day Dow tailspin which would've been yesterday.  2.375% at no cost hasn't been achieved in awhile per broker.  We've been close but it will cost about a $1000 to close.
Click to expand...

No luck. Came back at 2.75 with a 2200 credit. So no go.
Click to expand...

Sorry to hear, always try next week, I believe last week I could've locked with even more credit than $3200 at 2.5%.  I'm happy I bottom ticked yesterday, though in this market who knows.
 
Even if I can't get lower than 2.75, at the one year mark I would refi again at 2.75 with no closing costs (if available) to reset the 5 year clock.
 
I am waiting for more bombs from Europe and hoping we can reach the lows like in the end of 2012. Somehow I am becoming an addict to refi's, thanks to you guys.

USCTrojanCPA said:
The fun is not over with Europe, we'll get more chances to refi at 2.50% or lower.
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Also, it's earnings season on Wall St. So far it's not looking good.

The California Court Company said:
I am waiting for more bombs from Europe and hoping we can reach the lows like in the end of 2012. Somehow I am becoming an addict to refi's, thanks to you guys.

USCTrojanCPA said:
The fun is not over with Europe, we'll get more chances to refi at 2.50% or lower.
Click to expand...
Click to expand...
 
Banks are closed for MLK Day. Best time to check on Monday's rates: Bloomberg, US Futures, around 8-9:00 PM.

My .02c
 
ECB proposes 1.1 trillion Euro QE. more than double of previous expert consensus. Canada's central bank just cuts its rates. It looks like everywhere else is heading for a deflation, while US is relatively the strongest economy of them all. Let's hope the money keep pouring in to US stock and more importantly, US MBS
 
The California Court Company said:
ECB proposes 1.1 trillion Euro QE. more than double of previous expert consensus. Canada's central bank just cuts its rates. It looks like everywhere else is heading for a deflation, while US is relatively the strongest economy of them all. Let's hope the money keep pouring in to US stock and more importantly, US MBS
Click to expand...

Hmm-if the US stocks go up doesn't the 10 year bond go up also? Therefore interest rate will rise.
 
The California Court Company said:
ECB proposes 1.1 trillion Euro QE. more than double of previous expert consensus. Canada's central bank just cuts its rates. It looks like everywhere else is heading for a deflation, while US is relatively the strongest economy of them all. Let's hope the money keep pouring in to US stock and more importantly, US MBS
Click to expand...

It's funny how people were screaming about QE being terrible...looks like everyone else finally caught on and the US Fed was about 3 years ahead of the curve.
 
eyephone said:
The California Court Company said:
ECB proposes 1.1 trillion Euro QE. more than double of previous expert consensus. Canada's central bank just cuts its rates. It looks like everywhere else is heading for a deflation, while US is relatively the strongest economy of them all. Let's hope the money keep pouring in to US stock and more importantly, US MBS
Click to expand...

Also, hope people buy US treasuries drive the rate lower.
Click to expand...

MBS is more important/directly tied to mortgage rates.  10 year treasury yields are indicative of lower rates but not always...yesterday for example, rates were mixed while the yield was way down
 
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