sgip
Well-known member
39 pages from 1st post. Time to refresh the thread.
Short term ARM's don't have much more room to drop, while some have turned around and risen slightly here at the end of April/2014. 30 Fixed Jumbo's and some of the Conforming products have been seen again in the upper 3's with minimal costs. A bad employment report or two and mortgage rates might drop solidly into the 3's again. That's the present market here at the beginning of May. So a couple of questions:
1) If mortgage rates hit 3.50% again, would that be enough of a reason to consider a "move up" purchase, or would you stay put with what you've got and instead amass rental properties where / if possible cash flow is exists?
2) If you refinanced your 30 yr purchase loan into a 15, and if the right home to "move up" became available, would you likely sell or hold your present residence? (ex: Would you look to cheaply leveraged a purchase while rental pays itself off) What is your tipping point to sell?
There is some thinking out there that a return to low rates will spur more buying, but if there aren't any re-sellers, what good are low rates? Some Realtors are saying that anyone with a sub 3.75% rate just isn't ever going to be a seller - EVER. Curious what your thoughts are on the matter, along with continuing the "How Low" discussion thread.
My .02c
Short term ARM's don't have much more room to drop, while some have turned around and risen slightly here at the end of April/2014. 30 Fixed Jumbo's and some of the Conforming products have been seen again in the upper 3's with minimal costs. A bad employment report or two and mortgage rates might drop solidly into the 3's again. That's the present market here at the beginning of May. So a couple of questions:
1) If mortgage rates hit 3.50% again, would that be enough of a reason to consider a "move up" purchase, or would you stay put with what you've got and instead amass rental properties where / if possible cash flow is exists?
2) If you refinanced your 30 yr purchase loan into a 15, and if the right home to "move up" became available, would you likely sell or hold your present residence? (ex: Would you look to cheaply leveraged a purchase while rental pays itself off) What is your tipping point to sell?
There is some thinking out there that a return to low rates will spur more buying, but if there aren't any re-sellers, what good are low rates? Some Realtors are saying that anyone with a sub 3.75% rate just isn't ever going to be a seller - EVER. Curious what your thoughts are on the matter, along with continuing the "How Low" discussion thread.
My .02c