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

[Maserson]

https://www.yahoo.com/news/head-turner-mortgage-rates-15-060000865.html

Anybody know the details?

 

[paperboyNC]

Owning.com told me they could be 2.625% on a 30yr with absolutely no fees, but they consider me self-employed. I have an application open with a local mortgage broker, but they are moving at a snail's pace.

Maybe it's good because rates will keep coming down?

 

[potsticker]

Owning.com told me they could be 2.625% on a 30yr with absolutely no fees, but they consider me self-employed. I have an application open with a local mortgage broker, but they are moving at a snail's pace.

Maybe it's good because rates will keep coming down?

Loan Amount?

 

[qwerty]

Owning is at 2.25 right now for 15 year fixed under 510k.

Damn. Refi?d too early!

 

[aquabliss]

Owning.com told me they could be 2.625% on a 30yr with absolutely no fees, but they consider me self-employed. I have an application open with a local mortgage broker, but they are moving at a snail's pace.

Maybe it's good because rates will keep coming down?

That?s lower than their posted rates for 30yr fixed.  Did you ask for a reduced rate or they just offered it?  What is your LTV and loan amount?

 

[ChiKid24]

We talked about this in 2009.  Rates will never go high again.  I was kind of suprised back in 2018 when rates actually hit 5%....but that lasted what? 3 months?  Even before the virus, rates were already going down to 3.5% at the beginning of 2020. 

This country cannot raise interests rates.  Said it in 2009 when talking about ARMs with USCt, saying it again in 2020. 


Actually if you go back 160 pages, it's probably somewhere in this history.

When rates kissed 5% for a short while in late 2018 I told my clients that we would see rates back in the 3% range before they hit 6%. I'll admit that I never thought that 30 year rates would go below 3% but here we are.  Now I'm thinking rates might even go to 2% on the 15 year fixed rate and 2.50% on the the 30 year rate.

I've already seen reports of 2.5% 30 year with lender credits to just about cover closing costs (Sections D+E on loan estimate). Few hundred out of pocket.

 

[usctrojancpa]

We talked about this in 2009.  Rates will never go high again.  I was kind of suprised back in 2018 when rates actually hit 5%....but that lasted what? 3 months?  Even before the virus, rates were already going down to 3.5% at the beginning of 2020. 

This country cannot raise interests rates.  Said it in 2009 when talking about ARMs with USCt, saying it again in 2020. 


Actually if you go back 160 pages, it's probably somewhere in this history.

When rates kissed 5% for a short while in late 2018 I told my clients that we would see rates back in the 3% range before they hit 6%. I'll admit that I never thought that 30 year rates would go below 3% but here we are.  Now I'm thinking rates might even go to 2% on the 15 year fixed rate and 2.50% on the the 30 year rate.

I've already seen reports of 2.5% 30 year with lender credits to just about cover closing costs (Sections D+E on loan estimate). Few hundred out of pocket.

Is that for conforming or jumbo conforming loans?

 

[Dr. CA Real Estate]

We talked about this in 2009.  Rates will never go high again.  I was kind of suprised back in 2018 when rates actually hit 5%....but that lasted what? 3 months?  Even before the virus, rates were already going down to 3.5% at the beginning of 2020. 

This country cannot raise interests rates.  Said it in 2009 when talking about ARMs with USCt, saying it again in 2020. 


Actually if you go back 160 pages, it's probably somewhere in this history.

When rates kissed 5% for a short while in late 2018 I told my clients that we would see rates back in the 3% range before they hit 6%. I'll admit that I never thought that 30 year rates would go below 3% but here we are.  Now I'm thinking rates might even go to 2% on the 15 year fixed rate and 2.50% on the the 30 year rate.

I've already seen reports of 2.5% 30 year with lender credits to just about cover closing costs (Sections D+E on loan estimate). Few hundred out of pocket.

Where you see this?

 

[ChiKid24]

We talked about this in 2009.  Rates will never go high again.  I was kind of suprised back in 2018 when rates actually hit 5%....but that lasted what? 3 months?  Even before the virus, rates were already going down to 3.5% at the beginning of 2020. 

This country cannot raise interests rates.  Said it in 2009 when talking about ARMs with USCt, saying it again in 2020. 


Actually if you go back 160 pages, it's probably somewhere in this history.

When rates kissed 5% for a short while in late 2018 I told my clients that we would see rates back in the 3% range before they hit 6%. I'll admit that I never thought that 30 year rates would go below 3% but here we are.  Now I'm thinking rates might even go to 2% on the 15 year fixed rate and 2.50% on the the 30 year rate.

I've already seen reports of 2.5% 30 year with lender credits to just about cover closing costs (Sections D+E on loan estimate). Few hundred out of pocket.

Where you see this?

Saw it in the "Refinance Mega Thread" on this finance forum I follow:https://www.bogleheads.org/forum/viewtopic.php?p=5403186#p5403186

Lender is Lenderfi. Saw two people post with different loan amounts of $268k and $690k. Not sure if those are conforming or super conforming because they don't say their location. Guessing it's not jumbo as I have not yet seen that market trickle below 3% without moving a bunch of assets.

Saw another report on slickdeals forum with someone using Better.com. Loan amount is $380k but again they don't provide location. Assume that is a regular conforming. Link to that thread here:https://slickdeals.net/f/13700090-a...ome-refinance-better-com?page=514#commentsBox

Both of those forums have a wealth of information on refinancing if you are interested.

 

[Irvinehomeseeker]

from LenderFi, the best rate I have gotten for High Balance Loan is 2.75% no cost. This was as of Monday. Not sure if rates improved since then.

 

[daedalus]

Lol  I just funded my refi a month ago.  Sign me up for 1 more!

 

[WTTCHMN]

Self-employed landlords battle harder for home-loan approvals
https://www.ocregister.com/2020/07/30/self-employed-landlords-battle-harder-for-home-loan-approvals/

 

[Kenkoko]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

 

[momopi]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

By ?owning covered all the fees? do you mean the refi was done without any fees added to the refi mortgage ?

 

[Kenkoko]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

By ?owning covered all the fees? do you mean the refi was done without any fees added to the refi mortgage ?

Correct. They provided lender credits covering every item in A,B,C,D & E.

 

[DBtoOC]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

Sounds like you had the same experience I had with Owning.  My processor (Amy) was competent, but didn't provide any updates and unless I poked and prodded her. 

 

[aquabliss]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

Was 2.75% the posted rate when you locked, or did they go below the posted rate?

 

[usctrojancpa]

Hmmmm, at 2.75% for a 30-year fixed at no cost I might be tempted to pay my loan down by $40k to bring it down to the jumbo conforming loan limit but I have this issue of being self employed.  haha

 

[qwerty]

Hmmmm, at 2.75% for a 30-year fixed at no cost I might be tempted to pay my loan down by $40k to bring it down to the jumbo conforming loan limit but I have this issue of being self employed.  haha

Just take the owning rate to a major bank and they should be able to match. You can always move money over to drive the rate down even further.

 

[eyephone]

I decided to go with Owning as well, started the process a few days ago. So far so good.

For those who are still considering, Owning was willing to go below their published rate for us after I showed them a couple competitive offers.

Will update this post again when refi closes.

Loan just funded. 2.75%, 30 years, 765k loan, <50% LTV, zero cost, Owning covered all the fees.

Took almost 4 weeks to close. Only nitpick with Owning is they don't proactively provide update after all the documents have been submitted.

Was 2.75% the posted rate when you locked, or did they go below the posted rate?

Maybe she got the vip rate. Because the rate on the website is 3%.