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

NEW -> Contingent Buyer Assistance Program
qwerty said:
Futures down 1000, oil down 30%, 10 year treasury yield drops below .5%.

The world is coming to an end!!!
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Don?t worry Trump will send out some tweets tomorrow and proclaim that the crash is a hoax. That the stock market is looking really good and mad rush people will pile back in.

The number will looks very good, it is perfect, it gotten really perfect. The very smart people are working on it. Perfect, just perfect.
 
Lenderfi is not accepting applications now. I just checked the site to see if rates had been updated. Said they will start taking apps once they catch up on current applications
 
Compressed-Village said:
Sounds familiar. Beginning of credit market frozen?


Could it be that bad, that fast?


Over-reacting? Maybe.
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For the newbs, referring to the previous financial crisis.
 
USCTrojanCPA said:
irvinehomeowner said:
USCTrojanCPA said:
US Bank has 2.75% 7/1 ARM with about $1k in fees.  These ARM rates just do not want to go down much.  It'll be interesting how long they stay stubborn if rates continue to bleed lower.
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That is also one of the caveats with ARMs. When fixed rates are so low, the usefulness of an ARM is diminished and that's the time when you should consider locking into a fixed. It's when rates are higher, that ARMs become a better choice (for those who are comfortable with ARMs).
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Here is what I tell my clients...

If you get a 10-year ARM loan, it needs to have an interest rate AT LEAST 3/8% lower than the 30-year fixed interest rate to be paid for the additional risk you absorb.  If you get a 7-year ARM loan, it needs to have an interest rate AT LEAST 1/2% lower than the 30-year fixed loan interest rate to be paid for the additional risk you absorb.
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That is a great rule of thumb.
 
qwerty said:
eyephone said:
qwerty said:
Futures down 1000, oil down 30%, 10 year treasury yield drops below .5%.

The world is coming to an end!!!
Click to expand...

I told you cornvirus will have an impact. But you listened to Morekas like so unreliable.
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I only listen to myself except when I listened to TI and refinanced  and even that turned out pretty well. I?ve been buying over the last week and have plenty more to deploy over the next 2-3 weeks. I still think this is temporary and all will be fine soon. Hell I may even buy some oil at this point.
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Curious, how long were you sitting on this money that you've been using to buy over the last week and plan to deploy over the next 2-3 weeks? What was it returning while you were waiting?
 
ChiKid24 said:
qwerty said:
eyephone said:
qwerty said:
Futures down 1000, oil down 30%, 10 year treasury yield drops below .5%.

The world is coming to an end!!!
Click to expand...

I told you cornvirus will have an impact. But you listened to Morekas like so unreliable.
Click to expand...



I only listen to myself except when I listened to TI and refinanced  and even that turned out pretty well. I?ve been buying over the last week and have plenty more to deploy over the next 2-3 weeks. I still think this is temporary and all will be fine soon. Hell I may even buy some oil at this point.
Click to expand...

Curious, how long were you sitting on this money that you've been using to buy over the last week and plan to deploy over the next 2-3 weeks? What was it returning while you were waiting?
Click to expand...

Took it out of the market at 27000. After that just collecting 1.7% in brokerage account. So missed on more upside as dow went up to 29,500. Wouldn?t have mattered though as I would have lost all gains anyway as we are at 25,000 now.
 
qwerty said:
ChiKid24 said:
qwerty said:
eyephone said:
qwerty said:
Futures down 1000, oil down 30%, 10 year treasury yield drops below .5%.

The world is coming to an end!!!
Click to expand...

I told you cornvirus will have an impact. But you listened to Morekas like so unreliable.
Click to expand...



I only listen to myself except when I listened to TI and refinanced  and even that turned out pretty well. I?ve been buying over the last week and have plenty more to deploy over the next 2-3 weeks. I still think this is temporary and all will be fine soon. Hell I may even buy some oil at this point.
Click to expand...

Curious, how long were you sitting on this money that you've been using to buy over the last week and plan to deploy over the next 2-3 weeks? What was it returning while you were waiting?
Click to expand...

Took it out of the market at 27000. After that just collecting 1.7% in brokerage account. So missed on more upside as dow went up to 29,500. Wouldn?t have mattered though as I would have lost all gains anyway as we are at 25,000 now.
Click to expand...

So you sold when dow hit 27000, presumably because you thought it was overvalued? Then you bought back in over the last week when it was trading between 26000 and 27000 because suddenly it's no longer overvalued? Not trying to be a jerk, just pointing out one of the risks in trying to time the market. If you thought it was overvalued at 27000 why was it so much better last week?
 
@chikid - no doubt there is risk in trying to time the market.  Sometimes it works sometimes it doesn?t. In this case it looks like it?s going to work out pretty well. There is generally a pullback like this one (although normally not as bad) that allows me to get back in. The market doesn?t trade on fundamentals anymore so being overvalued is irrelevant.

This 27000 isn?t any better than the 27000 when I sold out. However now I know is this sucker is going back up to 29000-29500 later this year and that means I?ll make a 15-30% return depending on how much I put in stocks vs etfs vs leveraged ETFs.

We always have plenty of exposure to the market in our 401ks as well and those are getting worked.

Good luck to all!!!
 
So far some of the most aggressive ARM products are over at Schwab. They sub to Quicken, the lender behind the low fixed rates that Owning/Lenderfi and others are using. Here's a good link to see what's what - however like any on-line resource, data can change in an instant:
https://www.schwab.com/public/schwab/banking_lending/todays_mortgage_rates

Up until a day ago they had Conforming 10/1 ARM's in the mid 2's (now 2.75) that could be bought down to 2.50 with $250k moved. 60% Loan To Value FWIW.

Almost any Bank will match a written quote from these low priced producers - so the better answer is "anyone" will have a low ARM refi rate, depending on who puts it in print first....  :D

My .02c
 
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