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What is the current COSI rate + my margin is 2.857

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Icon Mini Profile kmwilson





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Post Posted: Sat Oct 18, 2008 9:53 am    Post subject: What is the current COSI rate + my margin is 2.857
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My current Mortgage is COSI plus 2.857 %, what should my interest rate be? I can lock at 6.75% which would be lower?
Thanks,
Kirk
Icon Mini Profile jameshogg
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Post Posted: Sun Oct 19, 2008 11:38 pm    Post subject:
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Hi kmwilson!

You can ask the mortgage lender about the current COSI Rate. Then your can add the current COSI rate and 2.857% to know your total interest rate. Once you come to know about the interest rate, you can compare the two and know which one is lower. Then accordingly you can lock the one you feel affordable.

Thanks.
Icon Mini Profile brian1
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Post Posted: Mon Oct 20, 2008 12:34 pm    Post subject:
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COSI is hovering in the high 4's low 5's these days that new rate will be better.

Good Luck
Brian

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Icon Mini Profile lisascherzer



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Post Posted: Mon Oct 20, 2008 10:46 pm    Post subject:
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6.75 fixed would be better than the adjustable rate. You might want to just double check with a couple other brokers/lenders since that seems a bit high. With decent credit, a fixed rate is in the low 6's.
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Kirk Wilson

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Post Posted: Fri Oct 24, 2008 1:02 am    Post subject: COSI plus 2.857%
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Thank you all for answering my question.
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