| Author |
Message |
Bill Sawyer (Wsawyer)
Member
Username: Wsawyer
Post Number: 829
Registered: 2-2002
| | Posted on Sunday, May 18, 2003 - 10:14 am: | |
Thanks! Talk to you soon. |
Terry Springer (Tspringer)
Member
Username: Tspringer
Post Number: 514
Registered: 4-2002
| | Posted on Sunday, May 18, 2003 - 9:53 am: | |
30 year fixed rate, 5.25% with no discount points. |
Bill Sawyer (Wsawyer)
Member
Username: Wsawyer
Post Number: 827
Registered: 2-2002
| | Posted on Sunday, May 18, 2003 - 9:37 am: | |
Terry:
What are 30 yr. rates at? We'll be in Peachtree City on Friday looking at homes... |
arthur chambers (Art355)
Intermediate Member
Username: Art355
Post Number: 1645
Registered: 6-2001
| | Posted on Saturday, May 17, 2003 - 12:03 pm: | |
PeterS:
Prop 13 won't allow a reassement. Refinance, there are no tax consequences, unless you change title to the property, and even then if you remain in title, you can probably defeat any increase. Check with your assessor, you'll see I'm right.
Art |
Terry Springer (Tspringer)
Member
Username: Tspringer
Post Number: 512
Registered: 4-2002
| | Posted on Saturday, May 17, 2003 - 10:28 am: | |
I had 15 year fixed rate loans for amounts over $175K yesterday at 4.375%. Thats NUTS folks! Talk about cheap money...
Peter, when an appraisal is done on the home for mortgage refinance purposes, the results of the appraisal are confidential. They are provided to the lender and the borrower. Unless you provide the information to the county or state... they will not have access. It will not effect your tax assessment. If your paying 7.25%... your throwing money away. Call a good broker in your area. A broker who prices competitivly will almost always get you a better deal than a lender.
Terry |
PeterS (Peters)
Member
Username: Peters
Post Number: 445
Registered: 1-2003
| | Posted on Friday, May 16, 2003 - 10:11 pm: | |
I would be in the hole if I refinanced. I bought my house (N.Cal) for $170K six years ago at 7.25%. Its now worth $525K. The new tax basis from the reassessment on the house would kick my wallet! |
arthur chambers (Art355)
Intermediate Member
Username: Art355
Post Number: 1625
Registered: 6-2001
| | Posted on Friday, May 16, 2003 - 9:37 pm: | |
Paid my stuff off a long time ago. Nice to look at the rates, though.
Art |
BobD (Bobd)
Intermediate Member
Username: Bobd
Post Number: 1184
Registered: 3-2001
| | Posted on Friday, May 16, 2003 - 9:29 pm: | |
djmonk, 4.875.... talk to an accountant and that's like getting a free loan. I thought we did well 6 mos ago when we locked in at 5 1/8 for 15 yrs. Unbelievable.... congrats! |
djmonk (Davem)
Member
Username: Davem
Post Number: 257
Registered: 1-2002
| | Posted on Friday, May 16, 2003 - 8:52 pm: | |
I locked in 4.875% for a 15 yr. a month ago.
I figured my 6.75 fixed 30Yr. loan i got in 2/98 was too good to be true back then!
|
Sunny Garofalo (Jaguarxj6)
Member
Username: Jaguarxj6
Post Number: 464
Registered: 2-2003
| | Posted on Friday, May 16, 2003 - 8:07 pm: | |
Jean-Louis, fellow So Cal chat member, is a mortgage broker. I work for a Title/Escrow company in So Cal myself (though in Information Technology).
The rates will go up, so now is the time.
Sunny |
Terry Springer (Tspringer)
Member
Username: Tspringer
Post Number: 508
Registered: 4-2002
| | Posted on Friday, May 16, 2003 - 7:01 pm: | |
WARNING" BLATANT SELF PROMOTION TO FOLLOW!!!!
I own a small mortgage company. I offer a best price guaranty. Mortgage rates are RIGHT NOW at their lowest IN HISTORY.
If you have an ARM or if you have not yet refinanced.... DO IT. The bond market is currently overbought. The rallies of the last 2 weeks will not be sustained. I do not believe rates will increase substantially.... but they will jump a bit on profit taking alone next week.
If you live in Georgia.... call me. If you live outside GA I cannot help you except with advice.
Terry
[email protected] |
James P. Smith (Tigermilk)
Junior Member
Username: Tigermilk
Post Number: 134
Registered: 7-2001
| | Posted on Friday, May 16, 2003 - 11:48 am: | |
Fortunately I've paid most of my house off to the point where even at today's rates I'd likely lose a few bucks by refinancing my 8% loan. All the various fees associated with another inspection, refinance fees, etc, would be better served instantly paying down additional principal. My wife is mumbling about a new house however. At that point the decision becomes whether to become a landlord or sell the house. |
Martin - Cavallino Motors (Miami348ts)
Advanced Member
Username: Miami348ts
Post Number: 4654
Registered: 5-2001
| | Posted on Friday, May 16, 2003 - 11:20 am: | |
I am buying a condo and we have gotten some great rates, unfortunately that property will be flipped.
|
TomD (Tifosi)
Advanced Member
Username: Tifosi
Post Number: 3645
Registered: 9-2001
| | Posted on Friday, May 16, 2003 - 10:52 am: | |
you are right art, but the market has already priced the a decrease in June so you would need another one after that to get another signficant drop - in the end its a guessing game |
arthur chambers (Art355)
Intermediate Member
Username: Art355
Post Number: 1611
Registered: 6-2001
| | Posted on Friday, May 16, 2003 - 10:31 am: | |
The 15 year rate is below 5. I'd bet that we aren't done with the interest decreases though.
Art |
TomD (Tifosi)
Advanced Member
Username: Tifosi
Post Number: 3644
Registered: 9-2001
| | Posted on Friday, May 16, 2003 - 10:22 am: | |
for those of you who have not refinanced your mortgage (if you have one) treasury rates are at 45 year lows, thus mortgage rates have dropped to lows as well. for a thirty year fixed you could be looking at a low to mid 5 percent rate. I am not in the mortgage business but figured I would mention it, if you plan on moving in a few years you might be able to do even better with rates in the 4s good luck |