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Mortgage: Fixed 30 years interest rates


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#1 ARSEN

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Posted 26 September 2012 - 02:28 PM

Right now at 3.45%

Some people reporting that rates expect to drop close to 3.2% before elections. Anyone knows what to expect? I have an option to lock in on my rate in next 7-10 days but I can wait all the way to November to lock in. It seems like rates increased at one point in August but then dropped again.

#2 C47

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Posted 26 September 2012 - 02:51 PM

I thought they were just around 3.25 a few weeks ago. My wife and I just got our house at the end of July and we're at 3.5%...

#3 ARSEN

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Posted 26 September 2012 - 02:54 PM

Where do I check current one? I got it from some site but I dunno how accurate it is.

#4 NanuqoftheNorth

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Posted 26 September 2012 - 02:58 PM

If you can swing a 15 year, rates are better still and costs are significantly reduced over the life of the loan.

#5 ARSEN

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Posted 26 September 2012 - 03:02 PM

I cannot do 15 years. I got a wedding coming up and I'm first time home buyer.

#6 thefuzz

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Posted 26 September 2012 - 03:49 PM

USDA 3.0%
FHA 3.25%
CONV 3.5%

Depends on your broker though, and credit score, and how much fees are.

#7 Boner Champ

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Posted 26 September 2012 - 06:32 PM

I got a 30 yr conventional at 3.25% last month
My guess is this is as low as they will get, then the election will bring them back up

#8 The Saltman

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Posted 26 September 2012 - 06:59 PM

Rates will go up slightly after November. Don't expect them to go up until 2015 tho.

#9 pstall

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Posted 26 September 2012 - 07:03 PM

at the bare min rates go up like salt said. some fed dude even mentioned this a couple of days ago.

as i always say tho. its not about the % rate, it's about the payment.

#10 The Saltman

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Posted 26 September 2012 - 07:08 PM

After your wedding tho try to pay off your house as quickly as possible. Could save you in the 6 digits in interest depending on the loan amount.

#11 ARSEN

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Posted 26 September 2012 - 08:27 PM

Oh I know... I will pay around 200k in interest over 30 years... So the question is... Should I lock my rate? Whatcha guys think? My close date is Oct 26th.

#12 pstall

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Posted 26 September 2012 - 09:20 PM

i don't think we ever go below 3% just for psychological
reasons. so yes. lock it in.

#13 NanuqoftheNorth

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Posted 26 September 2012 - 10:07 PM

I cannot do 15 years. I got a wedding coming up and I'm first time home buyer.


You have an historically great rate. Don't worry, be happy. Congrats on the wedding!

#14 ARSEN

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Posted 26 September 2012 - 10:14 PM

You have an historically great rate. Don't worry, be happy. Congrats on the wedding!



Thank you sir.

#15 thefuzz

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Posted 27 September 2012 - 10:29 AM

Oh I know... I will pay around 200k in interest over 30 years... So the question is... Should I lock my rate? Whatcha guys think? My close date is Oct 26th.



Yes, lock the rate if you can get below 3.5.

Ask for a 1 time free float down, or at least tell them that another company is offering you one for free.

You can lock at todays price, and if it drops between now and your close date you can change it then for free.

Not all banks will do this but many will.


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