Rate/Market updates

Bertfish · Mar 23, 2017

El_flasko said:
Call me bud, we can look at it from all angles and see if it makes sense or not.

When the times comes I will keep you in mind. The house is honestly in such poor shape right now that I don't see any way I could possibly land a mortgage. First one was a miracle, I need to have the place done before I try for a refi IMO.

El_flasko · Mar 24, 2017

Bertfish said:
When the times comes I will keep you in mind. The house is honestly in such poor shape right now that I don't see any way I could possibly land a mortgage. First one was a miracle, I need to have the place done before I try for a refi IMO.

I'm here if and when you need me.

fabsroman · Mar 24, 2017

protegeV said:
Just curious, why did you HAVE to do an ARM?

We're house hunting down in TX and I'm trying to find the balance between buying now while rates are low or later when rates go up and the sellers market cools off.

When rates go up, the housing market usually cools off. That means prices actually stabilize, or in some cases they pull back. You can always refinance if rates go down. After buying a house, you can never pay less for it.

If I was in the market for a house, I would never rush into it because of rates possibly rising. We spent 3 years looking for this place. When we bought, we financed a little under 80% at 4.5%. Then, rates dropped to 4%. We refinanced. Then, rates dropped to 3.5%. We refinanced again. Overall, we are saving a little over $200 a month on the mortgage payment.

A decade ago should have been a lesson for everybody. People were jumping into the housing market, scared they would never be able to afford a home. They bought the largest home they could qualify for, and then they watched the bank foreclose on it a couple years later. We bought our townhouse back then with an interest rate around 7% and the housing market was still red hot and so was the stock market. Any chance we are going to see a Great Recession part deux here? I'm not going to lie, I am a little worried about it.

El_flasko · Apr 23, 2017

Rates came back a bit last week and sales are running strong. Let me know if you have questions!

Ryan

El_flasko · May 16, 2017

Well, rates are kind of of just hanging there but the buying season certainly has kicked into high gear up my way. I'm seeing lots of multiple contract offers going in and buyers are out in force. No significant rate moves in either direction, just the normal flux for now barring any big world/market news to come.

Just a general update

Ryan

j_h_smith · May 16, 2017

Do you think the rates will climb due to the seller's market?

El_flasko · May 17, 2017

We are hearing multiple rate hikes over the next year. How many/much is unknown.

El_flasko · Oct 11, 2017

Just a quick update.

Conventional, FHA and VA 30yrs are hovering in the high 3’s to low 4’s depending on credit scores and other qualifiers. Purchase market is strong and we are seeing VA streamlines and conventional ref is to cut term tick up as well.

I have personally done several loans recently for those trying to ditch mortgage insurance with a Refi. Freddie Mac has a couple new products you can Refi into if you have strong scores and plan on staying in the house long term. Give me a ring if you want to take a look or just have questions.

Ryan

El_flasko · Nov 29, 2017

El_flasko said:
Just a quick update.

Conventional, FHA and VA 30yrs are hovering in the high 3’s to low 4’s depending on credit scores and other qualifiers. Purchase market is strong and we are seeing VA streamlines and conventional ref is to cut term tick up as well.

I have personally done several loans recently for those trying to ditch mortgage insurance with a Refi. Freddie Mac has a couple new products you can Refi into if you have strong scores and plan on staying in the house long term. Give me a ring if you want to take a look or just have questions.

Ryan

^^^^

Most of this still applies today. Loan limits are going up which is very good for 2018. I’ll post a thread on that and a few new year updates soon

El_flasko · May 15, 2018

Market update 5/15/18!

Our head of secondary markets is putting out a really nice weekly market update thru video link. I encourage you to take a look. Hance is a REALLY smart guy and drops a bunch of knowledge that is easy to follow!

https://youtu.be/ZImHbblXEBU

As usual, call or email me with any questions or financing scenarios you may have!

:thumbsup:

El_flasko · Aug 29, 2018

Just a quick update on rates.

VA/FHA are holding in the low to mud 4's for well qualified borrowers and the standard conventional 30yr fixed rates are holding in the mid to upper 4's for well qualified borrowers as well.

We have some interesting Jumbo programs out there now and we are offering Doctor Loans to 95% with very favorable terms as well.

As usual, call or email me with any scenarios you may have. Please keep in mind I'm licensed all over the east coast :0

:thumbsup:

El_flasko · Jun 19, 2019

Well qualified borrowers are seeing rates in the low 4’s on 30yr fixed rates and the 15yrs are low 3’s. With small buy downs they’re back in the stupid low range.

Just a heads up for those who missed the last couple drops or those looking to buy.

Call or email me with questions

El_flasko · Jul 30, 2019

Starting to see rates trickle into the high 3’s again! VAs, conventional, and even fha for well qualified folks!

Send me a recent mortgage statement if you want me to take a look before you go thru the whole application. I’ll give it to you straight

El_flasko · Aug 18, 2019

Anyone looking to lower your 30yr rate or cut term to 15yr should be at least preparing with an active application so you’re ready to lock when what you want pops up. If you’re in a rate anything higher than low to mid 4’s just send me a copy of a recent mortgage statement and I’ll see if it makes sense in general before you jump in with the application.

Conventional, FHA and VA rates are all back down in the 3’s so it’s worth a look.

Thanks and call/email me with any questions!

Ryan

El_flasko · Sep 18, 2019

Hoping this roller coaster ride levels out a bit in coming days. Last week was rough, this week it’s drifting back a bit. Not a bad time to be buying or refinancing

El_flasko · Jan 27, 2020

Rates are looking damn good these days ladies and gents!! Give me a call with questions!!

spoon059 · Jan 27, 2020

Assuming excellent credit score and plenty of equity in house, what are the best rates for 15 and 20 year mortgages?

Sent from my SM-N970U using Tapatalk

El_flasko · Jan 29, 2020

spoon059 said:
Assuming excellent credit score and plenty of equity in house, what are the best rates for 15 and 20 year mortgages?

Sent from my SM-N970U using Tapatalk

Conventional, Fha, VA?

Bertfish · Jan 29, 2020

I don't want to derail your thread but I need to do a refinance on my home. It really aggravates me that the banks want to be paid for the refinance when they will make out like bandits on the interest.

onedash · Jan 29, 2020

spoon059 said:
Assuming excellent credit score and plenty of equity in house, what are the best rates for 15 and 20 year mortgages?

Sent from my SM-N970U using Tapatalk

I called yesterday and am refinancing. 30year VA refinance amortized at 21 years for 3%. Was previously at 3.75.

Rate/Market updates

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