General Discussion

GummyBearz

(2,931 posts)

5. It is interesting to me personally.

Thu Dec 17, 2015, 04:30 PM

Dec 2015

I thought mortgage rates would edge up after the announcement. The common answer when things don't work out the way it makes sense is "it was already baked into the price".

I would really like to refi as my rate was locked in during a brief peak in rates and I can't refi until Feb... If it stays steady at its current rate, I can refi and save $150/month. This was my first mortgage experience, and all the banks told me "we don't know what the rate is you will get, it locks in on the day it closes". I think I will try to use the inverse of that line when I deal with the banks again for the refi. "I don't know what day I will refi, it depends on the rate you can lock in".

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Fed Rate Goes Up. Mortgage Rates Go Down [View all] upaloopa Dec 2015 OP

The fed rate since 2008--one more way to make sure the rich get richer. merrily Dec 2015 #1

I'm glad that the mortgage rates aren't going up. My son Waldorf Dec 2015 #2

Does he have a rate locked in? upaloopa Dec 2015 #3

I closed on my first house this summer, the rate didn't lock until the week of GummyBearz Dec 2015 #4

No, not yet. I thought he would have to before the builder would even start on the house but Waldorf Dec 2015 #8

For me it was within 30 days of estimated closing date upaloopa Dec 2015 #9

I'll tell him to ask. House should be done in about 3 weeks. Waldorf Dec 2015 #10

It is interesting to me personally. GummyBearz Dec 2015 #5

I am in CA and had a mortgage broker to work with. upaloopa Dec 2015 #7

Yea that sounds like what they pitched to me as well GummyBearz Dec 2015 #11

i refi'd my mortgage and it caused my taxes to go up saturnsring Dec 2015 #6