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How do you know what I would have paid? You're assuming an awful lot. And being pretty rude about it too. 30-yr fixed for me are 5.875 with 0 pts. I chose my lender because of the low closing costs. Even paying a 1/4 point, it's going to be less than $2K. So I'm willing to pay a slightly higher interest rate, given the fact that I'll
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Moving out of state (CA to IN) to go to school. Company pays for school, then I have to move back to CA when I'm done. Going to be there less than five years, don't want to keep a house 2000 miles away... How does a 5/1 NOT make sense?
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It's a new purchase. Does that make a difference? Loan value of $110K, 20% down, conventional, FICO of 750
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Meh, screw it... I just pulled the trigger. 5.25% on a 5/1 ARM with a 1/4 point and no origination. I've got to be out of the office a lot today, and don't want to be constantly worried about missing something. Good call?
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[quote user="Bob V-G"]You "have to" lock tomorrow---because why?[/quote] Because I'm closing next week. Today's my last day. I'm thinking it will be a good one!
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[quote user="Bob V-G"]Hope floats, but vigilence wins.[/quote] Well, to be fair, I've been reading these forums for about a month now. I've been staying (relatively) on top of things. Today has been the first day that I've felt comfortable locking. Tomorrow is the last day I CAN lock before closing, so I HOPE I didn't make
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So it's possible that the rates will go down based on today's move? Or something else? Or not at all? Or is it not as responsive to the Treasury as I've been led to believe?
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TNX was down 3.77% today, yet the rates between 10:00 and 4:00 barely moved (par didn't move at all). Is this normal? Any chance the move will be factored in tomorrow? Is it obvious I have no idea what I'm talking about? ;-) BTW, I have to lock tomorrow, so I'm hoping for the best!
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[quote user="Kent Mikkola"]FHA ARMs cannot chnage by more than 1% each year.[/quote] Would I qualify for this? What are the drawbacks? I'm a first-time homebuyer with 20% down...
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So is this a place for people to post and compare daily rates? Does such a place exist? Is it totally unexpected or ill-mannered to contact my loan processor every day for quotes?