What Mortgage rates are you seeing?
Our mortgage broker quoted us 6-3/8 yesterday. I walked by a Countrywide office today. There was a sign on every associate’s desk, “Today’s Rate 3.9%.” Can it really be? Perhaps its not for mortgages but a different kind of loan? I guess I could go back and ask about the details …
Our mortgage broker quoted us 6-3/8 yesterday.
I walked by a Countrywide office today. There was a sign on every associate’s desk, “Today’s Rate 3.9%.”
Can it really be?
Perhaps its not for mortgages but a different kind of loan? I guess I could go back and ask about the details …
Hey Adam, I still waiting!!!! You know for that answer… About your “products”? Yeah after you take the harpoon out your neck, give me a call. Latter hommie…
The What (Yes it’s your boy!)
Someday this war is gonna end…
Check this out! The reason I called bullshit on Adam was because most of the insane mortgage products are GONE! Now Adam works for a “Mortgage Banker” huh? Why can you post some of your products here and tell us what you have Adam?
Now Lookie here
“720+ fico 20% down loan amount under 417k.
Vanilla 30 yr Conforming Fannie fixed rates.”
What the fuck is this going to buy here Adam??!!!! I tell what, NOTHING, NADA, ZERO.
Most of “Brownstoner Brooklyn” needs Non-conforming Mortgages or Jumbo’s.
The only way you are going to get get rates is
1. The Government is making Banks loan money to fucking Asshats to buy over priced real estate.
2. To make sure Josh and Megan can keep that 700k 1 bedroom Condo.
3. Make sure that Asshats like Wasder can stay on the Habitrail and make mortgage payments. Still being a debt slave!
4. Lying scam Assfuck Mortgage Broker, Loan Officers, Real Estate Brokers and Agents can keep the insanity going.
You see Adam if I was you I would’ve post a rate spread to the forms in a heartbeat but since you have NOTHING, that makes you a scumo fucking asshat.
You got POOWED!
Tell us what you got ADAM!!!!!!
The What
Someday this war is gonna end…
Here why you are at it please read this story. This the most insane period in history!
We Can Keep People in Their Homes
Let lenders profit later for easing terms now.
http://online.wsj.com/article/SB122523972217878309.html?mod=googlenews_wsj
“The world’s turned upside down. For generations of Americans, family homes were assets to be bequeathed to our children. Today, instead, we are proposing to leave them billions of dollars in long-term debt issued by the federal government to prop up a housing market gone bad. This is unfair.”
By the time this shit is over the United States of America will be fucking Bankrupt!!!
ING doesn’t do mortgages on co-ops. Too bad.
I am a co-op owner in Brooklyn and just got a card from ING Direct–the Orange Mortgage has a 5.25% rate/ 6.03 APR/0.00 points.
I am soo confused. Whilst Adam first mentioned that bond sell off will yield better rates in the future, JustinM says something to the opposite effect and Adam agrees with him.
So which is it? Should I have locked in my rate yesterday or wait a month? I’m sooo confused!
By the way — as far as those low 3.9% loans. They’re not teaser rates, they’re just HELOCs. They have no fixed period, so they’re much more risky in terms of interest rate exposure (watch for the prime rate to go up substantially after the recession is over) than say a 5/1 hybrid ARM. Plus, you need home equity to back them. If you have a short horizon, it’s a good way to get some money for cheap.
Might not be a bad time to take a small HELOC out to pay down other debt or your mortgage though since you can sort of average down your interest rate with it if you have a bit of risk appetite.
I just don’t understand how all this rate cutting is helping – isn’t this what got us in this mess in the first place? Cutting rates seems to be pretty useless (of course it’s nice for my heloc payments…) – now if they could get mortgage rates down, that would be helpful.
Thank you. I feel like this guy is taking crazy pills. I try to steer clear of his rants but I guess that’s not good enough for him.
I guess it was a matter of time. I above it.
-signing off for the rest of the day.
To provide a little perspective, when I bought my house in 2000, 30 year mortgages were about 8%. When the NYC market declined in the late 1980s 30 year rates were over 10%.