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mrswask
Pookie Love
Member since 5/05 20229 total posts
Name:
Michal
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Quick Mortgage Rate Question! Update
With the rates that have been around lately, and fluctuating as they've been - '
would you lock in at 5.125?
Update - spoke to mortgage broker again - no points and we decided to buy a point, so rate will drop to 4 and 7/8's - locked it!
Thanks for the advice!
Message edited 7/16/2009 4:13:53 PM.
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Posted 7/16/09 2:12 PM  |
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cindy104
This is my "Baby"
Member since 6/08 1522 total posts
Name:
Cindy
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Re: Quick Mortgage Rate Question!
If that's with no points, I'd say yes....def lock in. They've been about .5 point higher lately
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| Posted 7/16/09 2:13 PM |
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jerseychick
LIF Adult
Member since 4/09 3923 total posts
Name:
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Re: Quick Mortgage Rate Question!
Personally, I did lock in at that rate. I was afraid it would go back up.
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| Posted 7/16/09 2:14 PM |
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mrswask
Pookie Love
Member since 5/05 20229 total posts
Name:
Michal
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Re: Quick Mortgage Rate Question!
Posted by cindy104
If that's with no points, I'd say yes....def lock in. They've been about .5 point higher lately
OK - I still don't "get" everything and I'm so clueless - we're putting down 20% so that would be no points, right?
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| Posted 7/16/09 2:18 PM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: Quick Mortgage Rate Question!
would definitely lock in at that rate.
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| Posted 7/16/09 2:29 PM |
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mrswask
Pookie Love
Member since 5/05 20229 total posts
Name:
Michal
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Re: Quick Mortgage Rate Question! Update
Bump for update!
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| Posted 7/16/09 4:14 PM |
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Re: Quick Mortgage Rate Question! Update
wow great deal!
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| Posted 7/16/09 4:17 PM |
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jerseychick
LIF Adult
Member since 4/09 3923 total posts
Name:
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Re: Quick Mortgage Rate Question! Update
Awesome!!
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| Posted 7/16/09 7:02 PM |
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evenedan
Need a little sunshine
Member since 9/05 3843 total posts
Name:
D
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Re: Quick Mortgage Rate Question! Update
Posted by mrswask
Posted by cindy104
If that's with no points, I'd say yes....def lock in. They've been about .5 point higher lately
OK - I still don't "get" everything and I'm so clueless - we're putting down 20% so that would be no points, right?
Buying a point has nothing to do with putting down 20%. Buying a point lowers your interest rate. The point costs 1% of your loan amount. We put down 20% and bought one point to lower our interest rate to 4.5%. It's worth considering if you plan to own the house more than five years. Good luck.
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| Posted 7/16/09 9:22 PM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: Quick Mortgage Rate Question! Update
great news!!!
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| Posted 7/16/09 9:30 PM |
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