Mortgage Rates

sfdragonboy · April 5, 2018, 4:26pm

One word: FOMO

marcus335 · April 5, 2018, 4:47pm

Stock market is up 30%.

Jil · April 5, 2018, 4:51pm

FOMO is real too.

sfdragonboy · April 11, 2018, 3:42pm

Ok, my Tracie just locked me in on a fairly decent rate I think: 3.875%, 7 yrs fixed for my investment property. Jumbo loan. Not completely free, but only $879.

sheriff · April 11, 2018, 5:37pm

Some banks in San Diego are offering 6 month CD rates at 4.25-4.30%. I think that is a sign that mortgage rates will be going up soon. They are usually higher than CD rates.

sfdragonboy · April 11, 2018, 5:43pm

Well, mortgage rates have gone up over the new year and the Fed is expected to continue inching it up in the future. I was hoping for a longer fixed period than 7 years but I will more than likely refi or sell before then.

Jil · April 11, 2018, 5:46pm

Which bank or banks? I want to deposit here rather than paying off my 30 year fixed at 3.625%. I need to hold my cash for around 2 years at least.

wuqijun · April 11, 2018, 5:47pm

That’s a good rate. I have a 7 year arm for 3.5% which I got in 2006. Recently, I refied 3 mortgages to 30 yr fixed of 4.375%.

sheriff · April 11, 2018, 5:51pm

First Financial Guarantee was offering the 4.25%. I saw another ad for 4.30 but did not write it down.

sfdragonboy · April 11, 2018, 5:56pm

Yeah, she had been trying to hold off on locking for me since the best she could find for me was 4% up until this morning.

BAGB · April 11, 2018, 6:23pm

What? You decided to not buy a house for 2 years? Even if there’s a correction, it’s unlikely to reach the bottom in 2 year. Next bottom could be 6 years away.

BAGB · April 11, 2018, 6:27pm

Mortgage rate is pretty high for some banks. The difference between a good rate and bad rate has increased a lot. It’s better to lock in the good rate now when you are given a chance. It’ll go up for sure, just not sure how much.

Roy321 · April 11, 2018, 6:31pm

I’m SERIOUSLY surprised that my house price is almost up 50% in 2.5 years. At this point it needs to fall by 33% to go back down to my purchase price.

Hence for me the conclusion is waiting to buy would not have helped me.

BAJacket · April 11, 2018, 6:34pm

Are those investment property rates? Cause I was able to get 3.5% 30 year fixed in 2016.

BAJacket · April 11, 2018, 6:36pm

What area are you in?

wuqijun · April 11, 2018, 6:38pm

Yes, all are investments.

Roy321 · April 11, 2018, 6:38pm

BAJacket · April 11, 2018, 6:39pm

Ah ok, then that’s not too bad.

BAJacket · April 11, 2018, 6:47pm

Guess I missed the boat for Fremont

Jil · April 11, 2018, 6:51pm

I really do not think this bull market go further. This year Stocks are going out. It is done deal now.