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horncyclist

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Posts posted by horncyclist

  1. 1 minute ago, Wulaw Horn said:

    You talking 30 I assume. Remember cash out comes with about a 1/4 point hit in rate. I could do that for 3.625 hours on a cash out today- provided I looked at your deal and was convinced it would be easy and not take up too much time. If it looked like there was any hair on it 3.625 or 3.75

    Again- that’s one lender out in front of the pack so that could disappear by opening bell tomorrow. 

    Yes, 30-year fixed. So 3.875 is not too bad then? This is a little embarassing but I just realized the difference between a  mortgage lender and a broker.  I've been talking to 3 lenders--one from the institution who owns my current mortgage, one who did the mortgage when we bought the house 3 years ago, and a third who does deal for a family member who does a lot of residential real estate. Should I talk to a broker? 

  2. Does cashing out if the LTV is still 75% or less matter? I got quoted 3.875 today, which still seems high with the rates your throwing around. My wife's middle score is 725. Conforming loan. 3.5 would be great. I'm close to just doing the 3.875...saves a half a percentage point and I can get the cash out I need before the whole economy goes in the shitter. 

  3. 5 hours ago, Wulaw Horn said:

    Great great post right here.

    Someone upthread asked for quotes- daily- I don't mind.  Best case scenario- and this is assuming my lender thats out in front wants to keep doing business (an assumption that changes by the minute) but good credit- 30 year I could do 3.375 (and if you really wanted to kick me in the balls and I thought the deal was easy and/or wroth 300 or more- 3.25).  15 year be looking at 2.875 or 3.0

    What's "good credit"?

  4. 17 minutes ago, GreenspointTexas said:

    1) for the love of fucking god, stay home. Dont go to store, its too late. Dont go anywhere. Unless you are in healthcare, call in to fucking work. Goddamn some of yall are fucking morons. More than likely, if youre over the age of 70, youre toast

     

    2) we WILL quarantine before the end of next weekend. It WILL happen. Itll be one to two weeks too late, but IT WILL happen. Itll start with two weeks and likely extend to a month

     

    3) the number of people that have this right now are likely in the tens of millions. In the next 5-7 days, you will Likely see things youve never seen happen in this country before. 
     

    4) this is going to be a 2-3 month ordeal, especially because we didnt quarantine earlier. We will quarantine. It wont be ling enough. Everyone will come outta their bomb shelters in april thinking everything is ok, then we will have the same problem in may (maybe to a slightly lesser extent). 
     

    5) at this point, there is no solution, just pray for herd immunity. We have nothing else to hope for in beating this

    As far as I can tell there's zero guidance about public interaction for a non-high risk person who has not know to have been exposed. People going out are dumb but it's not like anyone with authority is telling them not too. The incompetency is going to likely kill 100s of thousands more.

    • Like 1
  5. 1 minute ago, GreenspointTexas said:

    I still cant believe this administration hasnt ordered a quarantine yet

     

    weve learned nothing from the rest of the world

    We're 1-2 weeks behind on every decision. There will be quarantines ordered in a week, weeks later than we should have. It's this constant delayed reaction that will make it as bad or worse than Italy and Wuhan.

     

  6. Feeling sick I failed to lock the 3.625 30-year fixed when it was offered but it seems like the rates have to come back down. This article says that basically banks were overwhelmed by demand, having trouble processing loans and funding them when rates dropped to the historic lows, so they raised rates to meter demand. That makes sense. But if accurate, they should come down gradually again once things settle down. It's reasonable to expect similarly low rates in a month or two, no?

    https://www.marketwatch.com/story/mortgage-rates-increased-this-week-despite-the-coronavirus-turmoil-heres-why-you-havent-missed-the-chance-to-refinance-2020-03-12

     

  7. 3 minutes ago, ShaggyBevo RIP said:

    That's impossible, posters have said warm weather kills it.

    There was some hope with seemingly limted spread in the southern hemisphere. Probably just that there's a much greater exchange of people in the north and delayed testing. We're fucked for at least a year. This is going to have the impact of a world war.

  8. 2 hours ago, UTPhil2006 said:

    Not at all.  It just isn't at the super low it was at Friday/early Monday.  I was just insinuating that waiting for it to go down when the 10 year was at .49 was a risky move

    So I just had a lender go from quoting me 3.625 on a 30 year conforming cashing out $100k on 2/28 to quoting me 4.875 today. Is that the kind of jump you're seeing? Our current rate is 4.375 so we'll just hold off on the plans for the cash if rates have skyrocketed. It seems like they'll have to settle down some and with the prime rate and 10-year low, you'd think that would be near the lows.

    Also, can you do a loan in Virginia?

  9. This thing seems really fucking contagious:

    Most cases linked to the meeting, which was attended by about 175 people, are in Massachusetts. State health officials said Monday that 32 of the 41 infected patients in the state were either Biogen employees or close contacts of employees.

    Two people in Indiana, five people in North Carolina and one person in New Jersey tested positive with coronavirus after attending the meeting.

    Biogen has since informed all attendees to quarantine themselves and symptomatic employees to alert public health officials, the company said in a statement emailed to The Washington Post.

    “We recognize that this is a difficult situation for our colleagues and their loved ones,” the drugmaker wrote. “We are actively working with all relevant departments of public health and hospitals to prioritize the well-being of the people who may have been exposed to COVID-19.”

    https://www.washingtonpost.com/world/2020/03/09/coronavirus-live-updates/#link-J6OHSEP2AJELJMSDXTI4RMEY3E

    Unclear how many of the 32 in Massachussets were there, but it seems like a quarter of the people catching something from one conference is bad. It's supposed to be less contagious than the flu. Does the flu transmit like that?

  10. 1 minute ago, Skipper said:

    Despite the idiots on the Pence committee claiming something ridiculous like 1MM tests available by the end of the week, it's pretty damn obvious we still aren't testing anyone. Florida flat out admitted they can't.  I haven't seen anyone report testing at any type of scale and have seen numerous reports of ER doctors with seriously ill patients testing negative for the flu that can't get a Covid test done.   Whether that's due to lab capacity, lack of test kits, or flat out some fucked up strategy from the administration/CDC to kick the can down the road, it's pretty embarrassing we're getting run ruled by the likes of South Korea and Italy when it comes to getting ready and reacting to this thing.   

    Embarassing but not at all surprising. We seem to be handling this as poorly as possible--late with travel restrictions, botched quarantines, no testing, mixed communication on seriousness. We're going to get hit harder and more quickly because of it. 

  11. 17 hours ago, UTPhil2006 said:

    10 year is kind of hovering right now but Dow is up over 1000, so soon yes.

    10-year dropped down again this morning. Have the mortgage rates caught up yet? It seems like they lag a little. I found this website, which updates average rates daily. http://www.mortgagenewsdaily.com/mortgage_rates/daily.aspx It seems like mortgage rates are not coming down as much as the 10-year. 

    Also, on getting the best rate, is it worth shopping around to a few different lenders or is it competitive enough, that you're likely to get the same from whoever? I had talked to the lender that did our mortgage when we purchased last week, just reached out to two others this morning. Appreciate any advice on how to navigate that. 

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