What's your mortgage rate? in Off Topic Forum

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What's your mortgage rate?

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drinkinghotchocolate	What's your mortgage rate?	Lead	[-]
Posts: 30611 (01/05/09 03:05 PM) Registered User Reply Quote More Recent Posts	Viva la removeaducion! Remove this ad Standard OT pissing contest Here's the deal. I have to renew in the next two months. Our current rate is under 5%, and we're being quoted closer to 4.5% by the same bank. I'm having a baby in the next month. I know I really SHOULD shop around, but I'm kind of feeling like why bother? The posted rates are almost 2% higher, so to get the real rates I'd probably have to be booking a bunch of meetings to talk to bank weenies, which I do not need to be doing when I'm staring down 2 kids under 2. But then again, I can't get over the feeling that I'm the worlds biggest sucker if I just flat out accept their first offer without shopping around.
ustrasana		#1	[-]
Posts: 5151 (01/05/09 03:06 PM) Registered user Reply Quote More Recent Posts	You better shop around.
GoodNeighborgirl		#2	[-]
Posts: 18715 (01/05/09 03:10 PM) Fatty McBadmom Reply Quote More Recent Posts	did your mama tell you that?
ScruffyGuy		#3	[-]
Posts: 8768 (01/05/09 03:11 PM) Registered User Reply Quote More Recent Posts	A winner for the MOST BORING THREAD TOPIC OF 2009 already? You go, girl.
ustrasana		#4	[-]
Posts: 5153 (01/05/09 03:11 PM) Registered user Reply Quote More Recent Posts	My mama always told me that. <3
drinkinghotchocolate		#5	[-]
Posts: 30612 (01/05/09 03:12 PM) Registered User Reply Quote More Recent Posts	It must be a good rate, no ones bragging about theirs yet
Baby Please		#6	[-]
Posts: 4691 (01/05/09 03:14 PM) Baby Pees Reply Quote More Recent Posts	mine is around yours. I didn't think it was that great honestly.
PieceOfSquash		#7	[-]
Posts: 12134 (01/05/09 03:15 PM) Registered user Reply Quote More Recent Posts	yeah, i only have a 3.4% interest rate. maybe they just charge janitresses extra?
ustrasana		#8	[-]
Posts: 5155 (01/05/09 03:16 PM) Registered user Reply Quote More Recent Posts	no one is bragging, because most OT'ers don't have one! They live in their mama's basement.
youfist		#9	[-]
Posts: 1395 (01/05/09 03:18 PM) Everyone's favorite bigot Reply Quote More Recent Posts	I am a Senior Mortgage Officer. That rate of 4.5% is 'not that great'? Wow. Rates hit a 37 year low and they aren't that low? www.bankrate.com www.marketwatch.com thank me very much
pamrose228		#10	[-]
Posts: 427 (01/05/09 03:19 PM) Reply Quote More Recent Posts	Viva la removeaducion! Remove this ad ustrasana wrote: no one is bragging, because most OT'ers don't have one! They live in their mama's basement. I must be getting ripped off cause mine is 5.4
drinkinghotchocolate		#11	[-]
Posts: 30613 (01/05/09 03:19 PM) Registered User Reply Quote More Recent Posts	Baby Please wrote: mine is around yours. I didn't think it was that great honestly. I wonder if thats a Canada-US thing. I have never heard anyone here with a rate under 4.3
DelosWorld		#12	[-]
Posts: 755 (01/05/09 03:19 PM) Reply Quote More Recent Posts	Zero. I paid the old 7.5% 15 year one off early.
ustrasana		#13	[-]
Posts: 5156 (01/05/09 03:24 PM) Registered user Reply Quote More Recent Posts	I googled shop around and this is what I got. yw!
ohboy		#14	[-]
Posts: 3115 (01/05/09 03:30 PM) Registered user Reply Quote More Recent Posts	mine is 7%. 7 years to go. i should look around to see if there's a deal with no cost to refinance, but how much am i really going to save? and i'd have to spend all that time dealing with it....
unduli clone		#15	[-]
Posts: 4059 (01/05/09 03:49 PM) Registered User Reply Quote More Recent Posts	My month has been living in an apartment, hotels, my mother's, and my two grandparents. What is this mortgage thing that you speak of?
sawsuage		#16	[-]
Posts: 3629 (01/05/09 03:52 PM) Jimmy Dean Reply Quote More Recent Posts	i just got a quote on 4.625%. we are currently at 5.875% 30 year and i was looking into doing the 4.625% 15 year but i don't think i'm gonna. and why would you have to renew? is that a canadian thing?
youfist		#17	[-]
Posts: 1397 (01/05/09 03:55 PM) Everyone's favorite bigot Reply Quote More Recent Posts	ohboy wrote: mine is 7%. 7 years to go. i should look around to see if there's a deal with no cost to refinance, but how much am i really going to save? and i'd have to spend all that time dealing with it.... you can get around 5% and closing costs are usually about 2.5% of the loan amount. Of that 2.5%... 1% is true Lender fees and the ramaining is for title insurance, new escrow set up, etc. The only out-of-pocket expense is the cost of a home appraisal $300. All the other 'fees' are rolled into the loan and some are a tax deduction. Remember, if you set up a new escrow account (taxes and insurance on the property), you get the old one back PLUS you skip 2 payments before the new loan starts getting repaid.
Dave715		#18	[-]
Posts: 2307 (01/05/09 03:57 PM) Registered user Reply Quote More Recent Posts	We sign the papers for a new house tomorrow. We were quoted at 5.1 when we pre qualified a month ago. Its down to 4.4-4.7 so we could save a bit when we sign tomorrow. That sure would be nice.
Bonestripper		#19	[-]
Posts: 1035 (01/05/09 03:58 PM) Reply Quote More Recent Posts	Home 0.0 Ocean House 0.0 30 acres in the woods 0.0
ohboy		#20	[-]
Posts: 3116 (01/05/09 03:58 PM) Registered user Reply Quote More Recent Posts	Viva la removeaducion! Remove this ad thanks, i'll do the math... i would guess that everyone in the world is trying to refinance right now, so it'll be really slow-going to find someone and all that....right or wrong? eta: wait, i really do need to do the math. but when you say "you can get around 5% and closing costs are usually about 2.5% of the loan amount," not to be a total dumbass, but 2.5%?! even if it's rolled into the mortgage, that's $2,500 per $100k... saving 2% on the interest rate but paying 2.5% in fees? that can't make sense.... Last Edited By: ohboy 01/05/09 04:03 PM. Edited 1 times.

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What's your mortgage rate?

What's your mortgage rate?