1time2many

Rates.....How low can they go

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Well the end result for me was 4.875% on a 30 year USDA.

Not too bad. I think it dropped another .125% the day after I locked in, but that's still pretty good if you think about where things will probably be in 5 or 10 years.

Rates are flat this week, and I'm thinking it will be 20 years before rates are this low again after it starts picking back up.

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Well the end result for me was 4.875% on a 30 year USDA.

Not too bad. I think it dropped another .125% the day after I locked in, but that's still pretty good if you think about where things will probably be in 5 or 10 years.

Rates are flat this week, and I'm thinking it will be 20 years before rates are this low again after it starts picking back up.

That's exactly what I received in October 2009- 4.875% 30yr fixed, then it dropped .125% the day after. That's too funny.

I think that rate is fantastic. Nice work!!

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Pretty much finished. They just epoxied the grarage floor yesterday and all that is left is to screen in the back porch.

One more week to until the paperwork gets done and then I should be closing in the first half of April.

It'll be nice to be in the new house in time for my big-4-0 in July :-)

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Good thing before you got in before the next FHA mortgage insurance hike. The next one officially goes up April 18 2011

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Good thing before you got in before the next FHA mortgage insurance hike. The next one officially goes up April 18 2011

USDA has no mortgage insurance. :-)

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...USDA has no mortgage insurance. :-)

No M/I...Outstanding Methuss!!!!!!! Congrats :)++:)++

Now your in the home are you ready for the next expense? Home Depot should have sales on :mrgreen:lawn mowers :mrgreen:in the next few weeks.....lol!!!:mrgreen:

As for the rates - does any one remember what happens every year - like clock work... Every spring there is some crisis that causes the gas prices to rise... In my opinion because the weather is changing and there are more drivers - the Gas companies are looking the make more money....:rolleyes:

Every April/May people start freaking out the rates, the rates, the rates are going up... Then on June 16 - the day after the fed can schedule a rate adjustment, the rate barely moves or stays where was .....lol..8-):rolleyes::rolleyes::rolleyes:

Interest rates on mortgages hold steady below 5%: Freddie Mac

Thursday, March 10th, 2011

Interest rates on mortgages held steady across all product types during the week ending March 10, Freddie Mac said.

The average 30-year, fixed-mortgage rate increased just 1 basis point to 4.88%, according to Freddie Mac's Primary Mortgage Market Survey. That's up from a rate of 4.95% this time last year. Just one month ago, rates were 5.05% — the only instance in which rates broke 5% this year.

Rates on 15-year FRMs held steady at 4.15% compared to one week prior. The average origination point for this type of loan is currently 0.7. The rate for a 15-year FRM was 4.32% one year ago.

According to Freddie Mac, five-year, Treasury-indexed hybrid adjustable-rate mortgages increased slightly to 3.73% from 3.72% one week ago, while one-year, Treasury-indexed ARMs averaged to 3.21%. During the same week in 2010, the rates for these ARMs were 4.05% and 4.22%, respectively.

Freddie Mac Chief Economist Frank Nothaft said positive macroeconomic factors including unemployment are steadying mortgage rates.

"Mortgage rates held steady amid a strong employment report," Nothaft said. " The private sector added 222,000 jobs in February, the most since March 2006 while the unemployment rate fell to 8.9%, the lowest share since April 2009."

The Bankrate survey of large thrifts showed the same trend in mortgage rates; however, rates remain above Freddie Mac's. The rate for a 30-year FRM increased one basis point to 5.04%, the rate for 15-year FRMs rose slightly to 4.32%, and the rate for a 5-year ARM increased to 3.88%.

.

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Now your in the home are you ready for the next expense? Home Depot should have sales on :mrgreen:lawn mowers :mrgreen:in the next few weeks.....lol!!!:mrgreen:

In the Florida sun...hell no.

I'll care for the fruit trees I'm planting and for the garden, but the lawn... that's for a service to do. Besides...allergic to grass. in ten years... my daughter can do it. :-)

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For anyone people who is floating rates down or who was looking for a good time to apply for a refi or mortgage, you might have another chance if you act quickly. World markets have tanked the past few days, mostly because of the nightmare in Japan. Japanese markets were crushed again, European markets were down up to 5% in some countries. The Dow is poised to open trading with a 300 point gap down this morning.

In any case, could be temporary but the flight to safety over the past few days has driven mortgage rates down roughly 0.50% in four days. The 10yr is back down to 3.20% from recent highs in the 3.8s.

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For anyone people who is floating rates down or who was looking for a good time to apply for a refi or mortgage, you might have another chance if you act quickly. World markets have tanked the past few days, mostly because of the nightmare in Japan. Japanese markets were crushed again, European markets were down up to 5% in some countries. The Dow is poised to open trading with a 300 point gap down this morning.

In any case, could be temporary but the flight to safety over the past few days has driven mortgage rates down roughly 0.50% in four days. The 10yr is back down to 3.20% from recent highs in the 3.8s.

Can you say QE 3....the saga, ie: trilogy:wink:

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Can you say QE 3....the saga, ie: trilogy:wink:

A 3rd round of money printing would be disasterous. Although not beyond the realm of possibility so long as the Fed keeps it's head in the sand regarding the real inflation rate. Core inflation at .8 percent...bunch of overpaid idiots. Of course inflation is at .8 percent when you take out energy and food. DUH. Put all those things back in and the real rate of inflation is about 9.1 percent right now (courtesy shadowstats.com). And that doesn't count all the price pressures that are in the pipeline that have not yet reached consumers like increased source commodities.

If they did a QE3 we would be facing real inflation rate of over 14%.

I'm sure everyone reading this has thought the same thing with salaries depressed and not keeping up with real costs of living. We've all been going backward for a decade.

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A 3rd round of money printing would be disasterous. Although not beyond the realm of possibility so long as the Fed keeps it's head in the sand regarding the real inflation rate. Core inflation at .8 percent...bunch of overpaid idiots. Of course inflation is at .8 percent when you take out energy and food. DUH. Put all those things back in and the real rate of inflation is about 9.1 percent right now (courtesy shadowstats.com). And that doesn't count all the price pressures that are in the pipeline that have not yet reached consumers like increased source commodities.

If they did a QE3 we would be facing real inflation rate of over 14%.

I'm sure everyone reading this has thought the same thing with salaries depressed and not keeping up with real costs of living. We've all been going backward for a decade.

With everything that has gone on the last few weeks it had to give him a hardin........he now has the cover to suggest it in a couple of months or just continue it under the radar.........I really don't see that he has a choice as there are no buyers out there......If the next 2 weeks are like the previous, bet the farm it continues one way or the other.

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I agree guys. It is pathetic. QE is quite literally dilution of money. Gold has gone parabolic. A few years ago I will looking to buy silver at $11/oz. Its nearing $36. Cotton doubled last year. Oil is up 65%. Copper is at all-time highs in the midst of the worst US housing slump in history. Corn is absurd, and beef prices are reflecting it. Nothing like year over year 25% rises in the price of hamburger. The price of farm land is going through the roof. This is inflation, but only if you eat, wear clothes, or use energy.

This benefits the top 5% in this country because they own the lion's share of hard assets. The bottom 95% pay for these things as monthly expenses (so do the top 5% but it represents a tiny fraction of their budget). Having food & energy costs rise 25% annually for someone making $2,000,000 isa rounding error on their checking account interest. It is back breaking for someone making $20,000. This is what QE does. Bernanke reminds me of some of the people I work with that have PhDs, JDs, and other alphabet soup after their name. They work with blinders on in such minutae that they can write 400 pages on a regulation or author an IND, yet they quite literally can't work the copy machine or change the oil in their car. Bernanke, and the people around him. live in the world of statistical minutae where you "hedonically" adjust every stat for seasonality & birth/death rates and come up with the number that supports your current policy. Inflation is running rampant. Anyone who drives a vehicle or shops at a grocery store knows this. Intraverted coddled central bankers who don't live in the real world will tell you otherwise because their numbers that are adjusted ad nauseum spits out a core rate that indicates things are peachy.

Rome burns and Nero fiddles.

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For those out there that think central bank intervention is worthwhile and that there are no inflationary costs, I offer you one small tidbit of information. Here is a 10yr chart for cotton costs. Did your net income match the chart during the same time interval? Not even close? That's us collectively getting poorer to pay for the benefits of "QE" manipulation of currency.

http://www.mongabay.com/images/commodities/charts/cotton.html

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JQ26, Its funny how we aren't economists but we can see the freight train coming at us, while the Fed has their back to the train with their ipods cranked up.

:trainwreck:

We aren't even the experts, yet we understand it better than they apparently do.

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JQ26, Its funny how we aren't economists but we can see the freight train coming at us, while the Fed has their back to the train with their ipods cranked up.

:trainwreck:

We aren't even the experts, yet we understand it better than they apparently do.

Its only because we live in the real economy.........Personaly I am tired of being a servant. I think within 3-4 years we will return back to the Gold standard in some form.........until then I buy all the Silver I can, and the crazy part....There is more gold than there is silver.:lol:

40-1.......to 15/16-1 very soon.

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