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lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Today's mortgage rates dropped by .25% to 5.25% with zero points on a 30 year mortgage. For those of you that missed out on the 2003 rates, or got into an adjustable rate, there is opportunity again!

livinginnky · Posted: Tue Jan 22, 2008 11:12 am Post subject:

Thats great, however rates change on a daily basis and every situation is different. I am not a fan at all of throwing out rates like this. To me it looks like an ad. Please be careful in your posts.

Sincerely

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Eric,

You are right but I think it is good that we come to know about subtle changes in the industry and a potential borrower may act accordingly. I think as long as anyone is not singing about their products and services or asking people to consult it is ok. Is not it Smile

By the way sorry if I say anything wrong Smile

Best of luck,
Larry

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I didn't want my post to come accross as an advertisement. I just wanted to let people know how low the rates are now. I was quite excited when I posted earlier today. Not everyone watches the rates like we do and I hope that I am able to help people make informed decisions based on the market conditions.

gmakerley · Posted: Tue Jan 22, 2008 12:50 pm Post subject:

don't bicker, kids.

eric, i think lisa was trying to be above board here, informing those who may not know that rates are down quite a bit.

by the same token, i understand what you mean. the tossing of specifics about programs, products or rates can act as a virtual ad, perhaps to the point of leading someone to pick up the phone and seek out that particular deal.

ckalvesmaki · Posted: Wed Jan 23, 2008 5:52 am Post subject:

I happen to agree......I think it's an add.......

evolovik26 · Posted: Wed Jan 23, 2008 7:29 am Post subject:

It is an add just because it has no validity whatsoever. It is true there was a rate cut. It is true that rates went down. It is true that rates are almost at an all time low. But the whole "with zero points" thing is not nessesary. And what if I call you out on that? Zero points huh? well a definition of the point is 1% of the loan ammount/purchase ammount. So does this mean i can get a 5.25% interest loan for free? With no qualifications? Wow ill take 2 of thouse.
Your interest rates and points will depend on lender, your personal qualifications, and your current situation.
And the determining factor should be whether or not the loan is beneficial for you not who pronounces lower rates.

Guest

This is pretty darn redundant. Let's argue over weather or not this is an ad. I don't think it is. As a resident ad poster ( I do it everywhere, not breaking any laws, and hey, who does not like free business!) I can tell you this is nothing close to an ad. Granted, it could be misconstrued as an ad, but so could a lot of things on this board. Heck, posting your name and contact info in your sig is techinally an ad. Lighten up, people!

gmakerley · Posted: Wed Jan 23, 2008 8:31 am Post subject:

eric, i understand your point, and you are justified in it. marty, i understand your point as well and your justification.

i go back to what i said before - "don't bicker," and to what marty just said "lighten up." and truthfully, marty, you are correct in your assertion that putting name and contact information in the signature line is advertising of a sort. why else would we do it?

last...since this stream of conversation isn't doing much to enhance the understanding of the public at large, why don't we all just drop it and move on to bigger and better things?

Guest

No hard feelings. Group Hug for everyone!

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

evolovik26,

The reason I posted no points is because many companies will quote rates but the fine print says 2 points. So 5.25% doesn't mean much when people saw it advertised last week. If I wanted to post and Ad, I would have said rates are 4.75 and that would be it. I just wanted people to know what the true interest rate is for the day.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Thought I would post today's commentary on rates:

Mid day the 30 year bond lost most of the gains seen yesterday and this morning while stocks rebounded over 500 points to close at a gain of 289.00. This caused the interest rates to increase this afternoon to approximately 5.50% with no points.

Tommorrow's outlook:
Bonds are still declining in after hours trading. This would point to an increase in rates. However, the economic data released tomorrow could change the direction of the market.

General outlook on rates:
The market is so volitle that it is impossible to determine which way the market is headed in the next month or two. One day rates are up and the next they are down.

My advice: Take advantage of the rates when they are down, don't be greedy and wait for them to come down even more. As seen this afternoon, it could be gone as quick as it came.

ckalvesmaki · Posted: Thu Jan 24, 2008 6:55 am Post subject:

Lisa......I'm not trying to argue with you......I think anytime a rate is posted it should have an APR attached to it.......unless you use a range.....because to give a rate......with out any qualifying info ie loan to value or credit scores.....is in my mind not fair to the consumer.....I think a better approach would be to say......assuming you qualify conforming rates are starting around 5.5-5.75%....and use a range......rather than a specific rate.......we all(for the most part) have access to multiple lenders.....and we all know that rates can and will range a bit and vary.....but the way you post......again not trying to be confrontational here.....assumes that everyone walking through the door will qualify......and they won't.......I personally believe that if a DRE regulator where to read your posts......they would construe it as an add.......and more than likely fine you for violating RESPA for not disclosing an APR.......just my .02

banker0679 · Posted: Thu Jan 24, 2008 12:45 pm Post subject:

also, most lenders dont consider an 'origination fee' a 'point'.
This is true in what they're thinking .....

I have seen lenders say 5% no points....and still charge 1% origination fee or fees like application, commitment, lock, administration, underwriting, processing, apr fee, etc....and charge each one at 500...and leads to a higher cost than just paying 1point.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Today's rates:

Rates went up by .125% today.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

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Wow, what a rate drop!