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

NEW -> Contingent Buyer Assistance Program
Mortgage Daily says best execution is still 4.375% but I am not sure about the points.
http://www.mortgagenewsdaily.com/consumer_rates/346905.aspx

Also, this guy clearly has his priorities straight

"Temporary help from Russia with love. We'll take what ever we can in a week like this one. Hard to see rates being better this morning if not for Russia. If you can lock it's a good idea. Lots of economic data out starting today and getting juicy on Weds with Friday the big jobs report. We're hoping that Fridays report builds on the poor Dec and Jan reports. If it surprises to the upside with any upward revisions to previous months, then hold on because rates are going higher." -Michael Owens, VP of Mortgage Lending at Guaranteed Rate, Inc NMLS # 107434.
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OpenSky said:
Quick update - we closed, they funded same day based on a scan copy of signed docs. Wells also credited $1k to the deal (!!!); SGIP thinks it was based on the "oops" surrounding lack of disclosure of the auto-pay requirement, they said it was based on the commercial relationship with my employer. Personally, I don't care why -- I'll take it, along with the tax write-off for the origination fee.  8)

So I changed the auto-pay option today to my non-Wells bank of choice. Faxed it in and called to follow up, confirming it was changed accordingly. My loan hasn't turned into a 4.25% pumpkin yet.

Per SGIP "if it isn't in writing, it doesn't exist" so I trust my rate won't escalate with the change. Still at 4.0% :)

I'll close my account with Wells next month then report an update.
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Sounds like fun. Wells gave me last minute lender credits too when I closed with them. Best of luck and enjoy the new home.
 
Plenty of analysts are coming out with "sub 2.50% 10 yr Treasuries ahead" research. Perhaps all of that "It's all weather related..." economic commentary is starting to give way to a more realistic view of where we're headed. The FOMC minutes, falling stocks, and weak econ news are combining to  push mortgage rates back into buyer friendly territory. What are you seeing out there today?
 
Soylent Green Is People said:
Plenty of analysts are coming out with "sub 2.50% 10 yr Treasuries ahead" research. Perhaps all of that "It's all weather related..." economic commentary is starting to give way to a more realistic view of where we're headed. The FOMC minutes, falling stocks, and weak econ news are combining to  push mortgage rates back into buyer friendly territory. What are you seeing out there today?
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Yep, looks like the fixed mortgage rate tick down a bit..

30-year fixed-rate mortgage (FRM) averaged 4.34 percent with an average 0.7 point for the week ending April 10, 2014, down from last week when it averaged 4.41 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent.

15-year FRM this week averaged 3.38 percent with an average 0.6 point, down from last week when it averaged 3.47 percent. A year ago at this time, the 15-year FRM averaged 2.65 percent.
http://freddiemac.mwnewsroom.com/press-releases/fixed-mortgage-rates-tick-down-otcqb-fmcc-1105833
 
5/1 Jumbo 55%LTV, 2.625%, Annie Mac on Zillow

Quite a bit of movement last few days.

@SGIP, is there a sweet spot for loans around 55%LTV?  If I change the loan amt by a dollar the rates change quite a bit.  We're talking a dollar difference here (55.05 vs 55.049). 
 
For most lenders it's 60% LTV. It also helps if you have a pre-existing relationship with the funding bank. Most of the "biggies" have some strong discounts in rate for current bank / credit card / loan clients.
 
Wow,  this is low.  Have you used Annie Mac on Zillow before?


ps9 said:
5/1 Jumbo 55%LTV, 2.625%, Annie Mac on Zillow

Quite a bit of movement last few days.

@SGIP, is there a sweet spot for loans around 55%LTV?  If I change the loan amt by a dollar the rates change quite a bit.  We're talking a dollar difference here (55.05 vs 55.049).
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gld2 said:
Wow,  this is low.  Have you used Annie Mac on Zillow before?


ps9 said:
5/1 Jumbo 55%LTV, 2.625%, Annie Mac on Zillow

Quite a bit of movement last few days.

@SGIP, is there a sweet spot for loans around 55%LTV?  If I change the loan amt by a dollar the rates change quite a bit.  We're talking a dollar difference here (55.05 vs 55.049).
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Nope, NJ broker, did contact them when rates were this low awile back, seems like any other Jersey mortgage broker business I dealt with in the past, refi's are pretty boilerplate
 
10 year note just hit a yield of 2.45...dropping it to about where it was July/August of last year.  Mortgage rates are at about 4-4.25 for a 30 year. 
http://www.mortgagenewsdaily.com/consumer_rates/367678.aspx

Japan just came out with terrible retail numbers and China's real estate market and economy is slowing down again.  Germany had a disappointing jobs report.

All that means that people may be buying US Treasuries again...I wonder how far the yield will go until the Fed removes more bond buying.
 
Any recommendations for a mortgage lender with the following scenario:

Jumbo Loan
Looking for 5/1 or 5/5 ARM under 3% starting rate
LTV around 60% for a cash-out refi to pay off 2nd mortgage and other debts
No or low fees
Debt-to-Income ratio at 3% around 45% of easily verifiable income
 
Annie Mac, smarter mortgage, and aurora financial,all three on zillow, typical east coast mortgage shop, if you're self sufficient with refi, these guys are quick.  Trying for 2.5% 5/1 Jumbo 55% LTV, no impounds, no cash out, and no COSTS at closing.  This is with Annie Mac.
 
ps9 said:
Annie Mac, smarter mortgage, and aurora financial,all three on zillow, typical east coast mortgage shop, if you're self sufficient with refi, these guys are quick.  Trying for 2.5% 5/1 Jumbo 55% LTV, no impounds, no cash out, and no COSTS at closing.  This is with Annie Mac.
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Will they do the same rate for 60% LTV? Do they allow cash out? Is it advantageous for me to contact your guy there (PM ME?) or should I just apply online?
 
irvinehomeowner said:
In 30 years, ps9 will still be refi'ing his loan. :)
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I like gambling with paper money :)

The way I see it, I'm paying lower interest and making additional principal payments annually when I refi, I'll be done with this loan quicker than a 30yr.  I'm not scared of the 'what if' scenario just care about the 'now' scenario. 
 
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