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COVID-19
- Thread starter Treetop Flyer
- Start date
A few days ago my buddy had signed for a home purchase with 2.75 (not locked). The next day, the offered rates shot to 4.8. My lender was able to get him 3.375 locked.
Madness.
Anybody else see the footage of Brazil having their helicopter crews air taxi up and down the beaches to deter people from laying out? Pretty damn effective! It also could have been the guy with the Machine gun harnessed up in the back too.
Hello FL...are you paying attention?
Hello FL...are you paying attention?
When you don’t have to worry about getting sued or shitty media coverage, you can be super effective...
ABMD
Bullets don't fly without Supply
I refi'ed the first week of March, then it dropped a half point the next day. I wouldn't try and time the market, 2.9-3.5% is still better than histotical rates.
lol...yeah...air taxi a shitter down clearwater beach and watch the lawyers line up in the parking lots handing out business cards.
So many people have tried to refinance that the lenders are overwhelmed. They raised the rates to slow the applications. Also a lot of the industry is shutdown, not allowing for title checks, slowing the entire process to a halt.
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After talking with my mortgage broker this evening, I decided to lock in on that 2.75%, even if it is going to cost me $5500 in points. We'll be in the house for the next 10 years, I can afford it, and I'd be stupid to turn down a sub 3% rate. I'm bummed that I missed the lottery that was two weeks ago- where I could get this rate with nothing paid in points- but oh well. I'll never have to refinance for a better rate, so there's that.
After talking with my mortgage broker this evening, I decided to lock in on that 2.75%, even if it is going to cost me $5500 in points. We'll be in the house for the next 10 years, I can afford it, and I'd be stupid to turn down a sub 3% rate. I'm bummed that I missed the lottery that was two weeks ago- where I could get this rate with nothing paid in points- but oh well. I'll never have to refinance for a better rate, so there's that.
I got lucky with a 2.875. My loan officer sent me a text Mar 3 recommending I lock. I kicked around waiting, because people were talking about it dipping down to 2.625 or so. Thank god she hit me with the “now is not the time to be greedy. I HIGHLY recommend you lock this in.”
