Mortgage rates?

[The Mister]

<font size=2>Um, is it my imagination, or did mortgage rates just fall by around 3/8ths in the last few days?

[The Mister]

<font size=2>""Fed cuts key interest rate by half-point. Rates are at lowest level since 1962""

Oh, now I see. Nevermind!

Say, how much lower do you guys/gals think interest rates will fall before long term treasuries and mortgage-backed securities pull them back up again?

[golgo13]

Isn't there supposed to be an adjustment in the price of long-term securities when interest rates change?

e.g. Interest rates go up --> prices of long-term bonds go down

[Wigmeister General]

:bump:

[Force Majeure]

Why?

[Wigmeister General]

Because I'm amazed that mortgage rates have remained this low for this long.

[1695814]

Why?

[ahow]

I refinanced at 4.75% with $1500 closing costs. Pretty sweet deal. I'll probably be riding this mortgage out most, if not all, of the 30 years.

[Stanley Milgram]

I refinanced at 4.75% with $1500 closing costs. Pretty sweet deal. I'll probably be riding this mortgage out most, if not all, of the 30 years.

who with?

[FormLetter]

who with?

I think you meant to ask "with whom?"

You're welcome.

[trondogss]

Does your closing cost include your escrow? I Refied at 4.875% about a month ago, but my closing was about $3,500 due to my escrow. After factoring in the escrow that I will get back from my old loan and not making a May payment, the true cost of my refi was about $850.

[ahow]

who with?
BOA (formerly Countrywide) --> BOA. They are going to be rolling our escrow for us as far as I know. I did it through our realtor that sold us our house and got us the original loan. We managed to hit a peak back in September that put us at 6.375%, so 4.75% is looking spectacular. We could have done 4.875% with no closing costs, but I preferred the 4.75% since we plan on hanging on to our place for a long time.

[trondogss]

BOA (formerly Countrywide) --> BOA. They are going to be rolling our escrow for us as far as I know. I did it through our realtor that sold us our house and got us the original loan. We managed to hit a peak back in September that put us at 6.375%, so 4.75% is looking spectacular. We could have done 4.875% with no closing costs, but I preferred the 4.75% since we plan on hanging on to our place for a long time.

Sounds good.