Interest Rates

wgamble · Mar 16, 2020

I just refinanced my house at 2.87% on 20 year and no fees.

Still thinking on my commercial loans, im at 5% and 5.5%, new deal is 4.5% with 1% origination fee.

clutchee · Mar 16, 2020

Just looked into this.... currently at 3.75% for 30 years. When talking about refi, looked at this hut broker said buying points and adding 6-7k on back end of loan.
Wife looked up a online calculator for additional payments to principal and why it would do to loan.... adding 550 to our payments made our staying same goto around 14 year loan.

Thinking we will hold, and add additional premium to our payments.
Our method.

Kel · Mar 16, 2020

Commercial loan potentially dropping 400 a month on the same time frame. It’ll save me a year all told. Not bad for a signature and an hours worth of bull****ting around.

P · Mar 17, 2020

I was told 2.0 for 15yr but at the same time the said they were holding off for 2 weeks before doing any personal / non business loans. As off last night midnight, the county next to me closed all restaurant s,bars etc ... ****s getting weird

Kel · Mar 17, 2020

And now my loan is on hold for 2 weeks

collinmaune · Mar 17, 2020

So, the bank Rates are at 0 % this is what they can borrow from the central banks, treasury note etc. (most of the time older people in the least risk areas invest here) are at 0% so your home loan should be less than 2.5 % now. With waiting 2 weeks they have had an influx of people calling to refinance because we haven't seen the downturn of the economy yet. Since we were having a good stock market run and rates were still low compared to prior decades, it is a weird situation. We have ran out of Fed stimulus and now we are turning to giving everyone $1000. So everything is on hold to see if the Feds raise rates up from 0-.25%. In my opinion I think the stimulus packages is very stupid, if you want to stimulate the economy I think there is a better way. Anyone 58 or older that wants to retire should be giving their 401K as of Feb 12( the DOW HIGH) and social security early and be able to retire within the new month or 2. This would have a far larger impact than giving everyone money

kmcminn · Mar 23, 2020

Looks like 15 year rates are still high.

Blackbeard · Apr 30, 2020

My closing is Monday for the refi. 3.2%.
Saving considerable amount of cash over a USDA loan I originally had, wish I had never done that...live and learn.

j-mox · May 1, 2020

We closed on our refinance Monday. Got 2.87% on a 15 year.

We were at I believe 4.75% on 30 year so pretty good change for us

Blackbeard · May 1, 2020

Man, I should have pushed for that. When did you get locked?

j-mox said:
We closed on our refinance Monday. Got 2.87% on a 15 year.

We were at I believe 4.75% on 30 year so pretty good change for us

j-mox · May 1, 2020

Maybe 2-3 weeks ago. We had been talking with banker about it for about 1 1/2 months and rates were bouncing around so much she said they couldn’t really get one locked at rate we were shooting for (2.5-3) and it leveled out one day and she locked it in.