Wednesday 2/11…Decent Rally Yesterday in MBS

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Donald Wood — Thu, 12 Feb 2009 16:22:29 GMT

If 4% is unrealistic, then I'm OK either way. if under 4% comes by before this coming fall then all the better.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Victor Burek — Thu, 12 Feb 2009 15:19:55 GMT

no, rate sheets that i have seen this morning are slightly better.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Jonathan Clay — Thu, 12 Feb 2009 13:03:40 GMT

Victor, do you agree that rates will go up today?

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Victor Burek — Thu, 12 Feb 2009 12:47:37 GMT

Donald, you are setting unrealistic goals. Let us know what your current mortgage rate is. If you are paying higher then 5.75% for a 30 year fixed, dont hold out for under 4%.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Vogol — Thu, 12 Feb 2009 05:14:12 GMT

locked at 5.25%, no points, no cost, no fees, cash out, for three step refi for selected existing customer of wells fargo, will readjust to any lower rate until loan funded. can do this again after closing is over, if rates to down further...

re: Wednesday 2/11…Decent Rally Yesterday in MBS

cathy chen — Thu, 12 Feb 2009 03:39:58 GMT

kwik, do you have to pay for closing costs (no points,no discounts) thtanks

re: Wednesday 2/11…Decent Rally Yesterday in MBS

kwik — Thu, 12 Feb 2009 01:44:53 GMT

locked in at 5.25 (0 points) rate with my broker. Unless it goes down to 4.7 anywhere in the next 30 days, i'm fine.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Cary Sauer — Thu, 12 Feb 2009 01:35:22 GMT

To give you more details - 30yr fixed, 4.375 with 1.125 pts. (credit score >750, 90% LTV) Other costs include $400 application fee (refunded at closing) and $725 of "other lender fees" which I asked and includes appraisal, overnight charges, etc etc that all lenders add in. Everything else is closing costs that are identical for all places that I looked at. GLXPASS - I do have a premier banking relationship but received a letter 1 month ago saying that due to changes at BofA I will no longer have premier banking starting March 09.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Greg Farmer — Thu, 12 Feb 2009 01:00:59 GMT

I have been floating with USBank (WI) since early January and still can not get 4.75 (0 points) for a standard refi. Since I already paid for the appraisal with them, I kinda reluctant to move to some other lender. But just about any lender in out town is offering better deals with US bank. I am getting ready to loose my appraisal fee and try some other lender (even WellsFargo). Anyone has leads to a better lender in WI (Madison area)? PS: no financial sense for me to have anything above 4.75 (no points); I am surprised that many LO's here don't get that lots of refi's are already sitting on 5.5% or so so we are still sitting here, waiting for that 4.5 magic to happen

re: Wednesday 2/11…Decent Rally Yesterday in MBS

glxpass — Thu, 12 Feb 2009 00:23:56 GMT

BTW, I locked at BoA yesterday (2/10) morning for 30-year FRM with 4.875% at .875 points. This was before the afternoon rate drop. My hope is to reduce the points to .125 through the options I mentioned in my post above.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

glxpass — Thu, 12 Feb 2009 00:17:20 GMT

I don't think Cary specified the exact loan product he's getting his 4.375% at 1.125 points on. It's hard to believe it's a 30-year fixed because BoA has shown 4.75% at 0.875 points or 4.375 at 1.875 points since yesterday afternoon. This is for a $417K loan in CA. The only ways I know of to reduce points at BoA is: 1. Premier Banking Relationship: this might (not guaranteed) waive 0.5 points. 2. Have at least $500K in "investable accounts" at other financial instiutions and commit to bringing some of the funds to BoA: $100K - 0.25 points waived $250K - 0.75 points waived $500K - 0.50 points waived

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Jesse Salas — Thu, 12 Feb 2009 00:08:17 GMT

Donald, major gamble! Your comments are equivalent to you saying you are going to Vegas this weeked and plan to beat the house. Possible, but not probable. I don't mean to sound rude, but waiting for 4% is crazy. Talk to your lender.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Donald Wood — Thu, 12 Feb 2009 00:00:14 GMT

I don't like buying points and unless the fed does a 180, I don't think we will see rates go back to what they were this summers anytime soon. Below 4% with no points is my target to ReFi!

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Al — Wed, 11 Feb 2009 23:29:39 GMT

Is it realistic that the rates will drop further or to what they were in January? I have been watching rates since mid- January but I wasn't committed to my refi amount when rates were the lowest. Now I am feeling that I better lock-in before they shoot up and 4.5% with 1.5 pts is unattainable.

re: Wednesday 2/11…Decent Rally Yesterday in MBS

Donald Wood — Wed, 11 Feb 2009 22:50:58 GMT

How Low Can They Go! I'm thinking Much Much Lower. I'm going to hold out until the rates go below 4% before I ReFi