More Mortgage Mess

[wkndbeacher]

"I know a good loan officer that will help, he helped me when I thought all was lost and got me good value for my home when others told me no. PM me and ill give you his name."

http://forums.somd.com/showthread.php?p=2295716#post2295716

Exactly right I do know a good person in the business, he works for American General in Waldorf would you like his name?

 

[somdrenter]

Yeah around here you ll see some pick up in the next yr.

 

[kom526]

Yeah around here you ll see some pick up in the next yr.

Good call. We just got a GFE on a re fi and it looks likes we're going to be sub 5% for a 30 yr fixed. Waiting for the guy to call us back now.

 

[somdrenter]

Good call.

I do belive he's 180 out.
Sales are down, prices are down and falling.

 

[kom526]

Locked in @ 4.875% 30 yr fixed.

 

[Tilted]

Locked in @ 4.875% 30 yr fixed.

Congrats! If you don't mind me asking, what were you at before?

I think we are going to see retail rates to good debtors with real equity continue to fall. I wouldn't be surprised to see sub 4% mortgages in the first half of next year.

 

[kom526]

Congrats! If you don't mind me asking, what were you at before?

I think we are going to see retail rates to good debtors with real equity continue to fall. I wouldn't be surprised to see sub 4% mortgages in the first half of next year.

6.375% fixed.

I don't know about sub 4, I heard or read somewhere that banks need to charge at least 4.25 or 4.5 to break even on operating expenses. I could be wrong, it has been known to happen before. Even if it does go lower, I'm still happy with the savings.