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Posted: 4/1/2019 3:45:21 PM EDT
[#1]
"pigs get slaughtered"
when mortgages rates are well below any rational long-term average, don't look a gift horse in the mouth. remember the 70s. |
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Posted: 4/1/2019 3:46:14 PM EDT
[#2]
Let me check my magic 8ball to confirm. I work at a credit union and since 4th quarter of last year rates have been going up. I hope that trend changes, but I'm not so sure.
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Posted: 4/1/2019 3:50:25 PM EDT
[#3]
Quote HistoryQuoted:
"pigs get slaughtered" when mortgages rates are well below any rational long-term average, don't look a gift horse in the mouth. remember the 70s. |
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Posted: 4/1/2019 3:52:39 PM EDT
[#4]
I fucking locked in at 4.625 4 months ago because the fucking Fed Reserve was threatning to raise rates and yadda yadda. Wish i coukld have gotten 4.0 mother fuckers.
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Posted: 4/1/2019 3:55:10 PM EDT
[#5]
Quote HistoryQuoted: Thats only one half of the equation, savings and CDs were also earning 10% + 10% in savings is kinda meaningless when people have minimal savings. |
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Posted: 4/1/2019 4:00:26 PM EDT
[#6]
Quote HistoryQuoted:
Thats only one half of the equation, savings and CDs were also earning 10% + Quote HistoryQuoted:
Quoted:
"pigs get slaughtered" when mortgages rates are well below any rational long-term average, don't look a gift horse in the mouth. remember the 70s. It never works that way. |
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Posted: 4/1/2019 4:31:42 PM EDT
[#7]
Quote HistoryQuoted:
"pigs get slaughtered" when mortgages rates are well below any rational long-term average, don't look a gift horse in the mouth. remember the 70s. I’d say lock it in. |
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Posted: 4/1/2019 4:36:26 PM EDT
[#8]
Quote HistoryQuoted:
Let me check my magic 8ball to confirm. I work at a credit union and since 4th quarter of last year rates have been going up. I hope that trend changes, but I'm not so sure. But what’s this I’ve been reading all over online that mortgage rates have been declining this year and that the last Fed announcement was going to apply more downward pressure? You’re saying you believe the current trend is upward? |
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Posted: 4/1/2019 4:39:51 PM EDT
[#9]
Yes lock at 4% I got 3.7 fixed when I built my house three years ago. I don't see rates getting any cheaper unless you have a huge down payment.
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Posted: 4/1/2019 4:43:40 PM EDT
[#10]
Quote HistoryQuoted: @Aubie1 But what's this I've been reading all over online that mortgage rates have been declining this year and that the last Fed announcement was going to apply more downward pressure? You're saying you believe the current trend is upward? |
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Posted: 4/1/2019 4:44:36 PM EDT
[#11]
Quote HistoryQuoted:
Yes lock at 4% I got 3.7 fixed when I built my house three years ago. I don't see rates getting any cheaper unless you have a huge down payment. |
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Posted: 4/1/2019 4:44:54 PM EDT
[#12]
Quote HistoryQuoted:
Yes lock at 4% I got 3.7 fixed when I built my house three years ago. I don't see rates getting any cheaper unless you have a huge down payment. |
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Posted: 4/1/2019 4:49:13 PM EDT
[#13]
3.5% here. We're good.
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Posted: 4/1/2019 4:51:02 PM EDT
[#14]
Quote HistoryQuoted:
3.5% here. We're good. |
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Posted: 4/1/2019 4:54:36 PM EDT
[#15]
Quote HistoryQuoted:
I fucking locked in at 4.625 4 months ago because the fucking Fed Reserve was threatning to raise rates and yadda yadda. Wish i coukld have gotten 4.0 mother fuckers. |
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Posted: 4/1/2019 4:57:55 PM EDT
[#16]
In all the bickering over 4.0% versus 4.1% versus 3.85%, just remember that those are all quite low compared to the late 70s/early 80s, when 18% mortgages were real. Fed could just as easily raise rates ahead of 2020 election to hurt the stock market.
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Posted: 4/1/2019 5:08:23 PM EDT
[#17]
Quote HistoryQuoted: In all the bickering over 4.0% versus 4.1% versus 3.85%, just remember that those are all quite low compared to the late 70s/early 80s, when 18% mortgages were real. Fed could just as easily raise rates ahead of 2020 election to hurt the stock market. |
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Posted: 4/1/2019 5:12:10 PM EDT
[#18]
This week's drop was the biggest in years.
But I'm already sitting at 3.1, so it's unlikely I'll be needing or wanting to do anything anytime soon. |
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Posted: 4/1/2019 5:20:05 PM EDT
[#19]
Quote HistoryQuoted:
Yes, but I'm not buying a home in the 70's and the difference between 4.0% and 4.25% isn't zero... Quote HistoryQuoted:
Quoted: In all the bickering over 4.0% versus 4.1% versus 3.85%, just remember that those are all quite low compared to the late 70s/early 80s, when 18% mortgages were real. Fed could just as easily raise rates ahead of 2020 election to hurt the stock market. Did you price out rates and payments over 15,20,30 year? |
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Posted: 4/1/2019 5:27:59 PM EDT
[#20]
Quote HistoryQuoted:
Yes lock at 4% I got 3.7 fixed when I built my house three years ago. I don't see rates getting any cheaper unless you have a huge down payment. |
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Posted: 4/1/2019 5:34:30 PM EDT
[#21]
Quote HistoryQuoted: I’d bet the fed drops rates In the next 12 months. That’s not going to help OP, but Id still consider it soon. OP you probably won't see a better rate than 4 in the near term. |
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Posted: 4/1/2019 5:34:31 PM EDT
[#22]
We are 3 years in on 30 year at 4.125% and was looking at going down to 20 year. Rates on the 20 year were good at 3.75% but the points made it a no go.
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Posted: 4/1/2019 5:44:55 PM EDT
[#23]
The Fed rate has little to nothing to do with long term mortgage rates. Keep an eye on what the 10 year treasury is doing and that will give you a better idea what direction rates are headed. It closed at 2.414 on Friday, end of business today its at 2.4970, that's fairly significant. I think we hit a low of 2.36ish on Wednesday of last week. Rates had been going down the last two weeks...I got at least two rate increase notifications from every lender I work with today. I'd say go a head and lock in right now.
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Posted: 4/1/2019 5:46:24 PM EDT
[#24]
Quote HistoryQuoted:
Thats only one half of the equation, savings and CDs were also earning 10% + Quote HistoryQuoted:
Quoted:
"pigs get slaughtered" when mortgages rates are well below any rational long-term average, don't look a gift horse in the mouth. remember the 70s. |
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Posted: 4/1/2019 5:48:32 PM EDT
[#25]
Waiting for my builder to get all the permits approved so we can schedule a dig date and we can get locked. Hoping I can get 4 or under. Should hopefully be this week as we are almost at 4 weeks of waiting
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Posted: 4/1/2019 6:20:16 PM EDT
[#26]
When I started my refi I was looking at 4% but didn't sign my letter of intent because I wanted to wait a couple of months and pay down my principal a bit more to lower my payment. Ended up getting 4.25% because rates went up on me. Seeing 4% the other day annoyed me for like 5 minutes but I was more disappointed that I let get to 4.25% in the first place. At the time the fed was forecasting rate hikes and I didn't listen. If I were in your shoes I would refi now.
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Posted: 4/1/2019 6:35:00 PM EDT
[#27]
When i bought my house in 2015, it was predicted that rates would go up, i got locked in at 3.125% and have seen them creep up.
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Posted: 4/1/2019 6:43:20 PM EDT
[#28]
Literally just locked in my rate at 4.15$
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Posted: 4/1/2019 6:50:53 PM EDT
[#29]
I’m at 3.95
I’m gonna refinance during the next shit show |
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Posted: 4/1/2019 6:53:21 PM EDT
[#30]
Same for me. I got pre qual’d for 4.0 in September and found a house in December. The rate jumped to 4.6.
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Posted: 4/1/2019 7:08:50 PM EDT
[#31]
What is this mortgage you speak of?
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Posted: 4/1/2019 7:14:19 PM EDT
[#32]
Lock. I don't think this is a hard question.
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Posted: 4/1/2019 7:21:29 PM EDT
[#33]
3.5% on a 15 year here back on 5/17
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Posted: 4/1/2019 8:03:06 PM EDT
[#34]
Bump for the 8pm crowd
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Posted: 4/1/2019 8:16:00 PM EDT
[#35]
Quote HistoryQuoted:
When i bought my house in 2015, it was predicted that rates would go up, i got locked in at 3.125% and have seen them creep up. |
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Posted: 4/1/2019 8:22:01 PM EDT
[#36]
3.0% for a 15yr refi Jan 2018. I think I hit the bottom. It cut 7 years off current mortgage and about 40k in interest. Only raised my payment $140 bucks a month.
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Posted: 4/1/2019 9:02:26 PM EDT
[#37]
I'm really psyched for all you guys who got super rates thanks to President Taft's "bootstrap program," but we're taking about current trends in mortgage rates in the short term.
They dropped like a stone about 2 weeks ago and now may be shooting up fast. Wondering if I should wait it out and take a huge, hard one in the keister later on, or to lock in now and be loved tenderly right in the fart box today. 
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Posted: 4/1/2019 9:09:04 PM EDT
[#38]
Quote HistoryQuoted:
I'm really psyched for all you guys who got super rates thanks to President Taft's "bootstrap program," but we're taking about current trends in mortgage rates in the short term. They dropped like a stone about 2 weeks ago and now may be shooting up fast. Wondering if I should wait it out and take a huge, hard one in the keister later on, or to lock in now and be loved tenderly right in the fart box today. https://i.postimg.cc/bJ4xrYLs/Screen-Shot-2019-04-01-at-8-56-21-PM.png |
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Posted: 4/1/2019 9:10:40 PM EDT
[#39]
If you find current rates attractive and/or doable; lock them in.
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Posted: 4/1/2019 9:11:51 PM EDT
[#40]
A bird in the hand......
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Posted: 4/1/2019 9:13:38 PM EDT
[#41]
Quote HistoryQuoted:
You didn't answer my question from earlier. Are you only looking at 30year? Or did you get rates/fees for 20 and 15 as well? |
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Posted: 4/1/2019 9:23:04 PM EDT
[#42]
My mortgage is 4.125. Made me sad that I couldnt get it down into the 3s when we bought. Probably could have if we had rate shopped around a bit more but ehhh fuck it.
Mare me feel a little better when my uncle literally called me a liar when I told him my rate. He bought back in the day when teens was the norm and felt like he got a good deal when he was able to refinance for an even ten percent 20 some years ago. |
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Posted: 4/1/2019 9:27:15 PM EDT
[#43]
Quote HistoryQuoted:
30 year mortgage only. Quote HistoryQuoted:
Quoted:
You didn't answer my question from earlier. Are you only looking at 30year? Or did you get rates/fees for 20 and 15 as well? |
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Posted: 4/1/2019 9:29:54 PM EDT
[#44]
The fed doesn’t really know what the economy is doing, they crashed the stock market in dec due to that 4th rate hike and now they are saying global growth is slowing and they won’t be doing any tightening this year and may even cut
The bond market is signaling a slow down / possible recession and that’s why the 10 year crashed in March with the slightly inverted yield curve. Mortgage rates are based on the 10 yr bond But no one really knows and any one months data could change the sentiment , I think the economy is fine and rates will start eeking back up after this 1st qtr is over. |
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Posted: 4/1/2019 9:47:22 PM EDT
[#45]
Quote HistoryQuoted:
I'm really psyched for all you guys who got super rates thanks to President Taft's "bootstrap program," but we're taking about current trends in mortgage rates in the short term. They dropped like a stone about 2 weeks ago and now may be shooting up fast. Wondering if I should wait it out and take a huge, hard one in the keister later on, or to lock in now and be loved tenderly right in the fart box today. If you cannot handle a 0.15% decrease in interest rates after you lock in, you are not emotionally stable enough to buy a house. |
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Posted: 4/1/2019 9:53:16 PM EDT
[#46]
Quote HistoryQuoted: This is HIGHLY unlikely. They may not raise them again, but it would take a drastic change in policy for them to actually lower rates. |
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Posted: 4/1/2019 10:03:22 PM EDT
[#47]
Quote HistoryQuoted: If you cannot handle a 0.15% increase in interest rates before you lock in, you are not financially stable enough to buy a house. If you cannot handle a 0.15% decrease in interest rates after you lock in, you are not emotionally stable enough to buy a house. Also why I mentioned the 20 year. Using the same $300,000 (and OP never mentioned the amount). If someone can put an extra $350 or so per month and get a slightly better rate they're looking at nearly $90,000 less in interest, which is significant. |
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Posted: 4/1/2019 10:06:11 PM EDT
[#48]
Quote HistoryQuoted: In all the bickering over 4.0% versus 4.1% versus 3.85%, just remember that those are all quite low compared to the late 70s/early 80s, when 18% mortgages were real.. |
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Posted: 4/1/2019 10:07:25 PM EDT
[#49]
Quote HistoryQuoted:
On $300,000 that's $10,000 over 30 years. That probably wouldn't stop someone but who wants to pay more than they have to? But I agree with your point that if that's a deal breaker then it's not the house for you. Also why I mentioned the 20 year. Using the same $300,000 (and OP never mentioned the amount). If someone can put an extra $350 or so per month and get a slightly better rate they're looking at nearly $90,000 less in interest, which is significant. Quote HistoryQuoted:
Quoted: If you cannot handle a 0.15% increase in interest rates before you lock in, you are not financially stable enough to buy a house. If you cannot handle a 0.15% decrease in interest rates after you lock in, you are not emotionally stable enough to buy a house. Also why I mentioned the 20 year. Using the same $300,000 (and OP never mentioned the amount). If someone can put an extra $350 or so per month and get a slightly better rate they're looking at nearly $90,000 less in interest, which is significant. I imagine them shuffling around in their bathrobe, hair unkempt, shaking their cane at the walls, mumbling "I coulda paid $120/m less if I'd waited another week before I locked in.... damn you, house, DAMN YOU TO HELL!!" ETA: And my comment about 18% in the 1970s/80s was to give younger guys some perspective. It is still cheap as hell to rent the money to buy a house today, whether it's 3.5% or 4.5%. OP can snark all he wants, it doesn't change the fact that he's pole-vaulting over a mouse turd. |
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Posted: 4/1/2019 10:10:21 PM EDT
[#50]
Lock it. Commercial credit has a bit of a bubble going. When it goes, it's gonna be ugly.
Besides, I see mortgages all day long at 10%, 12%, 15% interest rates. Some of them require points up front: 5-8 to close, 2 to get out. Think bout that for a while and you won't bitch about your 4% that WILL go up. |
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