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

You can get 2.75% and 2.625% jumbo without points? That's pretty aggressive and a good rate for jumbo these days.
 
You can get those sub 3% rates either through a very low LTV or if you have substantial cash with a Bank/Brokerage. Schwab customers with $1m in an account can get 2.50 - 2.375 zero point purchase or refi money right now for example.
 
Soylent Green Is People said:
You can get those sub 3% rates either through a very low LTV or if you have substantial cash with a Bank/Brokerage. Schwab customers with $1m in an account can get 2.50 - 2.375 zero point purchase or refi money right now for example.
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Are you sure it's THAT low? I'm looking at what Schwab advertises and it is 3.5% for 30 fixed jumbo. They offer a max of 0.75% discount with $5M+ in assets. For $1M it's only a 0.5% discount.
 
Front facing Web Ad rates aren't what they appear to be.

When I was working for a large North Carolina based Bank, a past client of mine wanted to refinance his 1.2m loan. We were at 3.50% (garbage.... which is why I left that Bank...) He had $1m of funds at Schwab and closed with them at 3.0% back in October.

This client called me to see what we could do now in late December. He is "frozen out" at Schwab until 120 days pass from his previous closing. The quote he got from Schwab was 2.875. With his $1m they were able to take off .50, so net, net 2.375%. If rates don't move much, once February rolls by he still may get sub 2.5% money.

It's still possible to get sub 3% Jumbo rates if you are at 55-50% LTV even though you don't have $1m of assets with Bank A, Bank B, or Bank C.
 
MortgageNewsDaily reporting that we are back to a 52 week low of 2.76%. http://www.mortgagenewsdaily.com/mortgage_rates/daily.aspx

What are people seeing without points this week? I refi'ed last year at 2.75% but thinking it's time to go shopping again.
 
Cares said:
Rates haven't improved that much for you to see savings really. You might be able to get 2.5% with no point no fee.
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Do you have a good refi guy? 2.5 no point/no fee would work for me.
 
lookingnirvine said:
Anybody have experience with Interactive Mortgage?  they have 2.375% for 30 years at no cost....
https://interactivemortgage.com
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Considered using them for another refi but just refi?d in September not sure yet if I?m going to take the plunge.

Called them and talked to a loan officer who was very helpful and knowledgeable and didnt pressure me to move forward which was nice.  She confirmed they are no cost and no fee (lender credits at closing cover everything).

I can PM you her direct contact info if you want.  I also wonder if they have a 20yr rate in between the 15 and 30yr rate.  Forgot to ask when I called.
 
lookingnirvine said:
Anybody have experience with Interactive Mortgage?  they have 2.375% for 30 years at no cost....
https://interactivemortgage.com
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I closed a refi with Interactive Mortgage yesterday.  I also refi'd with Owning.com in June 2020.

In short, Interactive Mortgage got the job done, 2.375% 30 year mortgage obtained, so in that regard, they delivered on their promise.  They do have room for improvement though.  It took 8 weeks from application & document submission to closing, which was about 2 weeks later than promised.  They provided a wrong form for me to sign, so after they reviewed the signed documents they had to send me the correct form to sign and FedEx back to them.  Perhaps the holidays and volume of refi activity had something to do with my experience.

My experience with owning was better.  They provided all of the correct paperwork the first time.  From application submission to closing, it was about 3 weeks.  Everyone I communicated with was locally based, good communicators, and pleasant to work with.  At the time they were offering no cost refi, but now their loans come with some fees/points.
 
Just FYI, rates have worsened with news of a Democratic Senate. The market likes stability. About 60 bp over the last 2 days in anticipation of election results.
 
I just spoke to owning they are 2.5% no cost on new loan limits of 820+ with an ltv 50%.
For me they quoted 2.625% with 2k cost same loan amt ltv 60%
 
Cares said:
Just FYI, rates have worsened with news of a Democratic Senate. The market likes stability. About 60 bp over the last 2 days in anticipation of election results.
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But the stock market is up on the goods news.  ;)
 
MBS have slid over 150 bps in the last week alone. For the same file, I am seeing anywhere between 0.375% to 0.5% increase in the interest rate.
 

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Owning's website changed from 2.125% to 2.5% today.

Edit: Another revision to 2.875% now. Haha! MBS are moving slightly in the right direction this morning but no where near recovering the previous week's losses.
 
Cares said:
Owning's website changed from 2.125% to 2.5% today.

Edit: Another revision to 2.875% now. Haha! MBS are moving slightly in the right direction this morning but no where near recovering the previous week's losses.
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BofA has kept jumbo rates flat in the past 2 weeks and are seeing increased app volume because of that.
 
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