I re-fi'd once from my original note which had a rate of 7.125% when i purchased in 2007, to 5.0% in Jan 2009. I don't want to pay all the horseshit fees to the criminal establishment for a refinance, but at the same time it sucks to keep paying on 30yrs worth of debt at 5.0% when i see it's possible to get a 20% discount on the rate right now.
Or is it better to wait out for even lower rates?
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To remove first post, remove entire topic.
or are you waiting for rates to get lower?
I re-fi'd once from my original note which had a rate of 7.125% when i purchased in 2007, to 5.0% in Jan 2009. I don't want to pay all the horseshit fees to the criminal establishment for a refinance, but at the same time it sucks to keep paying on 30yrs worth of debt at 5.0% when i see it's possible to get a 20% discount on the rate right now.
TD Bank offers a mortgage rate adjustment. Thats what I did. You get the lower interest rate without refinancing and going back to 30yrs. I had to pay a half of a point on my exisiting principal balance. It will average out for me after 16 more mortgage payments. I did it to save 1/2 of a percentage on my mortgage rate.
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TD Bank offers a mortgage rate adjustment. Thats what I did. You get the lower interest rate without refinancing and going back to 30yrs. I had to pay a half of a point on my exisiting principal balance. It will average out for me after 16 more mortgage payments. I did it to save 1/2 of a percentage on my mortgage rate.
Quantitative Easing 2.0 decision will be made by the Central Banking cartel Federal Reserve on Nov 3...the day after election day
if they decide to do more QE, they will print money and buy US Treasury debt. every investment house in the world knows this and front runs the Fed and buys up an assload of US debt of all shapes and sizes. as the price of the 2 or 10 year rises, the yield falls. most mortgages track the 10 year bond which is about 2.4% right now which is incredibly low
stocks have run up...as has gold and oil because by printing dollars they devalue them. gold and oil and stocks are traded in dollars as the world's reserve currency
if Ben Bernanke decided not to print more money, everything crashes and the dollar gets stronger vs the Euro and Yen
if Ben prints more money, we're headed for a dollar crash which is much much worse than having the stock market lose half its value overnight
i think the People will figure it out what our government has done to our money when gas becomes $10 a gallon and we're back to a barter system
so...can rates get lower? sure, they can go to zero. in bizarro world where we live they will get to 2% before 6%. they should be north of 10% right now if the market was allowed to correct natturally. our government has prevented that
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Quote Originally Posted by vanzack:
Can rates actually get lower?
Quantitative Easing 2.0 decision will be made by the Central Banking cartel Federal Reserve on Nov 3...the day after election day
if they decide to do more QE, they will print money and buy US Treasury debt. every investment house in the world knows this and front runs the Fed and buys up an assload of US debt of all shapes and sizes. as the price of the 2 or 10 year rises, the yield falls. most mortgages track the 10 year bond which is about 2.4% right now which is incredibly low
stocks have run up...as has gold and oil because by printing dollars they devalue them. gold and oil and stocks are traded in dollars as the world's reserve currency
if Ben Bernanke decided not to print more money, everything crashes and the dollar gets stronger vs the Euro and Yen
if Ben prints more money, we're headed for a dollar crash which is much much worse than having the stock market lose half its value overnight
i think the People will figure it out what our government has done to our money when gas becomes $10 a gallon and we're back to a barter system
so...can rates get lower? sure, they can go to zero. in bizarro world where we live they will get to 2% before 6%. they should be north of 10% right now if the market was allowed to correct natturally. our government has prevented that
Quantitative Easing 2.0 decision will be made by the Central Banking cartel Federal Reserve on Nov 3...the day after election day
if they decide to do more QE, they will print money and buy US Treasury debt. every investment house in the world knows this and front runs the Fed and buys up an assload of US debt of all shapes and sizes. as the price of the 2 or 10 year rises, the yield falls. most mortgages track the 10 year bond which is about 2.4% right now which is incredibly low
stocks have run up...as has gold and oil because by printing dollars they devalue them. gold and oil and stocks are traded in dollars as the world's reserve currency
if Ben Bernanke decided not to print more money, everything crashes and the dollar gets stronger vs the Euro and Yen
if Ben prints more money, we're headed for a dollar crash which is much much worse than having the stock market lose half its value overnight
i think the People will figure it out what our government has done to our money when gas becomes $10 a gallon and we're back to a barter system
so...can rates get lower? sure, they can go to zero. in bizarro world where we live they will get to 2% before 6%. they should be north of 10% right now if the market was allowed to correct natturally. our government has prevented that
Thanks.
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Quote Originally Posted by KOAJ:
Quantitative Easing 2.0 decision will be made by the Central Banking cartel Federal Reserve on Nov 3...the day after election day
if they decide to do more QE, they will print money and buy US Treasury debt. every investment house in the world knows this and front runs the Fed and buys up an assload of US debt of all shapes and sizes. as the price of the 2 or 10 year rises, the yield falls. most mortgages track the 10 year bond which is about 2.4% right now which is incredibly low
stocks have run up...as has gold and oil because by printing dollars they devalue them. gold and oil and stocks are traded in dollars as the world's reserve currency
if Ben Bernanke decided not to print more money, everything crashes and the dollar gets stronger vs the Euro and Yen
if Ben prints more money, we're headed for a dollar crash which is much much worse than having the stock market lose half its value overnight
i think the People will figure it out what our government has done to our money when gas becomes $10 a gallon and we're back to a barter system
so...can rates get lower? sure, they can go to zero. in bizarro world where we live they will get to 2% before 6%. they should be north of 10% right now if the market was allowed to correct natturally. our government has prevented that
we live in bizarro financial world. anything is possible. very scary and i think i understand a good deal of it. as much as i read, i realize there's so much i dont know
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Quote Originally Posted by vanzack:
Thanks.
we live in bizarro financial world. anything is possible. very scary and i think i understand a good deal of it. as much as i read, i realize there's so much i dont know
Nobody can re-fi because they have no equity. Plus the government has made it impossible to qualify due to the new Fannie guidelines.
I re-fi'd @ 4.625 about a year ago (at little cost) due to this. Didn't want to risk waiting. Fortunately, the RE market around here leveled off.........but the mythical $80k equity I had about 3 years ago is pretty much gone. Glad I threw away the 100's of offers for a 2nd.......
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Quote Originally Posted by LakeFavorite:
Nobody can re-fi because they have no equity. Plus the government has made it impossible to qualify due to the new Fannie guidelines.
I re-fi'd @ 4.625 about a year ago (at little cost) due to this. Didn't want to risk waiting. Fortunately, the RE market around here leveled off.........but the mythical $80k equity I had about 3 years ago is pretty much gone. Glad I threw away the 100's of offers for a 2nd.......
we live in bizarro financial world. anything is possible. very scary and i think i understand a good deal of it. as much as i read, i realize there's so much i dont know
COVERS allows u to tell someone they are sexually frustrated so long as ur hands are clean
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Quote Originally Posted by KOAJ:
we live in bizarro financial world. anything is possible. very scary and i think i understand a good deal of it. as much as i read, i realize there's so much i dont know
That is a pretty awesome rate for 15 years. I'm in Canada but I'm looking at refinancing on a closed 5 year variable at prime (currently 3%) minus 0.85% or a 5 year fixed somewhere between 3.4% and 3.5%.
Also we can't claim the interest on our income taxes
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That is a pretty awesome rate for 15 years. I'm in Canada but I'm looking at refinancing on a closed 5 year variable at prime (currently 3%) minus 0.85% or a 5 year fixed somewhere between 3.4% and 3.5%.
Also we can't claim the interest on our income taxes
imo it's apparent rates are heading lower. Can't see a scenario where they go higher, anytime soon.
I'm going to hold out a little while and see what kind of deals pop up
i think 30 year is a better option then a 15 year. If you want to pay it off faster, get the 30 year and pay it down quicker voluntarily. that way you're not bound to contract to have paid it down in 15 years, besides when they are giving money away this cheap you'd have to think you can do something with it that beats out the principal repayment, no? 15 years are selling around 3.5% now, and 30years are hovering around 4.0%, so imo it's a bad deal to get a 15 yr @ 4.0%
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imo it's apparent rates are heading lower. Can't see a scenario where they go higher, anytime soon.
I'm going to hold out a little while and see what kind of deals pop up
i think 30 year is a better option then a 15 year. If you want to pay it off faster, get the 30 year and pay it down quicker voluntarily. that way you're not bound to contract to have paid it down in 15 years, besides when they are giving money away this cheap you'd have to think you can do something with it that beats out the principal repayment, no? 15 years are selling around 3.5% now, and 30years are hovering around 4.0%, so imo it's a bad deal to get a 15 yr @ 4.0%
That is a pretty awesome rate for 15 years. I'm in Canada but I'm looking at refinancing on a closed 5 year variable at prime (currently 3%) minus 0.85% or a 5 year fixed somewhere between 3.4% and 3.5%.
Also we can't claim the interest on our income taxes
thank your lucky stars, that is one of the most obnoxious incentives ever. moving forward the gov't needs to do away with that nonsense.
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Quote Originally Posted by LeafsNeedD:
That is a pretty awesome rate for 15 years. I'm in Canada but I'm looking at refinancing on a closed 5 year variable at prime (currently 3%) minus 0.85% or a 5 year fixed somewhere between 3.4% and 3.5%.
Also we can't claim the interest on our income taxes
thank your lucky stars, that is one of the most obnoxious incentives ever. moving forward the gov't needs to do away with that nonsense.
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