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

NEW -> Contingent Buyer Assistance Program
acpme said:
If you're 30 yrs old, in your adult life you've never seen 4% treasuries.
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I'm a lot older than that, I'm pretty close to joint AARP. :)

My very first mortgage was 9.5% and my first refi was at 7.5%. 

 
10 Year U.S. Treasury note briefly fell to 1.378% this morning, that's lower than the lows in summer of 2012.  Are we going to see a 30 year mortgage below 3.3%?

 
lnc said:
10 Year U.S. Treasury note briefly fell to 1.378% this morning, that's lower than the lows in summer of 2012.  Are we going to see a 30 year mortgage below 3.3%?
Click to expand...

For Jumbo loan, they are at 3.25% with 0pts.  With relationship discount, I got offered down to 3.00% with 0 points.  I have locked at 3.375% from May.  Planning to abandon the lock and switch over to a different bank to lock at 3.00% next week.
 
Goriot said:
lnc said:
10 Year U.S. Treasury note briefly fell to 1.378% this morning, that's lower than the lows in summer of 2012.  Are we going to see a 30 year mortgage below 3.3%?
Click to expand...

For Jumbo loan, they are at 3.25% with 0pts.  With relationship discount, I got offered down to 3.00% with 0 points.  I have locked at 3.375% from May.  Planning to abandon the lock and switch over to a different bank to lock at 3.00% next week.
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Congrats Goriot.  Super deal on top of moving into a house with already built-in equity in it.  Enjoy.

Paging PS9, it is time to refinance again
 
Goriot said:
lnc said:
10 Year U.S. Treasury note briefly fell to 1.378% this morning, that's lower than the lows in summer of 2012.  Are we going to see a 30 year mortgage below 3.3%?
Click to expand...

For Jumbo loan, they are at 3.25% with 0pts.  With relationship discount, I got offered down to 3.00% with 0 points.  I have locked at 3.375% from May.  Planning to abandon the lock and switch over to a different bank to lock at 3.00% next week.
Click to expand...

On a purchase, or refi?
 
Goriot said:
lnc said:
10 Year U.S. Treasury note briefly fell to 1.378% this morning, that's lower than the lows in summer of 2012.  Are we going to see a 30 year mortgage below 3.3%?
Click to expand...

For Jumbo loan, they are at 3.25% with 0pts.  With relationship discount, I got offered down to 3.00% with 0 points.  I have locked at 3.375% from May.  Planning to abandon the lock and switch over to a different bank to lock at 3.00% next week.
Click to expand...

who is offering this 3% Jumbo loan?  Please send details.
 
No kidding. Maybe this relationship deal can be made into a portfolio deal for bunch of TI folks, nudge nudge
 
It's basically 3.25% with 0.25% discount for moving >$500k to the relationship account where you can flag it for down payment.  He is moving and starting at a new bank from next week so they give him an extra boost to bring business in.  PM me and I will provide info.  This is purchase loan rate.  Refi rate will most likely be little higher.
 
Anyone else getting good quotes on 30 year jumbos? Last time around, with relationship pricing, I got to 3.25%, 0 cost refi.

This time around, the mortgage news daily index looks better, but I'm not seeing quotes under 3.25%.

Which lenders are most competitive right now?
 
For a 2nd home, how much of a spread should be expected? Refi.

I am at 3.75% on a jumbo and checked with two lenders I've worked with before. They both said it wasn't worthwhile to refi.
 
Every major bank has some sort of relationship pricing. Ours goes something like this:

Market Rate is X

You have $250,000 with us for more than 90 days?

Market rate is now X minus -.125%

Can you move $250,000 of IRA's, old 401k's, Mutual Funds, or other accounts that aggregate to $250,000 - funds over and above your down payment? Are these funds NOT a gift? OK Market Rate is now X minus .125% (original $250k), minus another .125% for new $250k to us.

Are you blessed with more than $250K to move? Perhaps $500k? Are these funds also not a gift? OK, then it's Market rate X minus .125% (original $250k), minus .25 for new $500k to us.

I've seen sub 3% 30 fixed doled out recently under these scenarios. The discounts also apply to ARM's. Sub 2% ARM deals are possible.

The alternative would be to pay points if you don't have $$$ to move to a new bank. 3% or below is possible if you have the funds to buy the rate down.

My .02c

Soylent Green Is People
 
Soylent Green Is People said:
Every major bank has some sort of relationship pricing. Ours goes something like this:

Market Rate is X

You have $250,000 with us for more than 90 days?

Market rate is now X minus -.125%

Can you move $250,000 of IRA's, old 401k's, Mutual Funds, or other accounts that aggregate to $250,000 - funds over and above your down payment? Are these funds NOT a gift? OK Market Rate is now X minus .125% (original $250k), minus another .125% for new $250k to us.

Are you blessed with more than $250K to move? Perhaps $500k? Are these funds also not a gift? OK, then it's Market rate X minus .125% (original $250k), minus .25 for new $500k to us.

I've seen sub 3% 30 fixed doled out recently under these scenarios. The discounts also apply to ARM's. Sub 2% ARM deals are possible.

The alternative would be to pay points if you don't have $$$ to move to a new bank. 3% or below is possible if you have the funds to buy the rate down.

My .02c

Soylent Green Is People
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i see.  unfortunately my cash is tied up with lots of other banks, not the one i would get a mortgage from.  oh well.
 
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