I moved to Mid-Michigan back in 2017. Was out there for about a year and a half before I decided that I didn't care for it all too much and decided to pack my stuff and move back
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I moved to Mid-Michigan back in 2017. Was out there for about a year and a half before I decided that I didn't care for it all too much and decided to pack my stuff and move back
I stop in every so often to catch up on the latest ChitChat gossip but haven't contributed much
I like places where it doesn't snow a lot better.
Well, that's not Michigan.
And you really need to do something about that avatar
W00T!! The Fed just announced it cut interest rates by 0.5% and I just started the refi Saturday in hopes of getting our loan refi'd from 30 year to 15 and rate from 3.375% to 2.875% or lower with the stock market drop last week. Maybe now I can get an even lower rate! :D
You can get a rate THAT low? That's awesome. I'd heard it was dropping, but that's even better than I had heard.
Yeah, me and my daughter are starting the refi process. There's no guarantee that the Fed rate drop we push mortgage rates down further, they might. Hate to wait around, Fed cuts have also stirred the economy in the direction of inflation which would mean rates would go up. Rates are around historic lows, they have a lot more room to go up than down. Might wait a week or so to see hat happens but don't plan on waiting long to lock in a rate.
The market is weird.
What's that measure of market volatility called? It's something like the V-index....which would make sense, since it would be volatility index, but I don't know if it's right. If that IS right, I'm totally making a pun about being V-ind..icated.
Anyways, it must be going NUTS! The market collapsed last week, soared on Monday, and today has seen a swing up of three hundred points, or so, then down of a
Actually I seen one lender offering 2.5% for a 15 year but unknown conditions. My loan officer thinks I should be able to lock in a rate of 2.75% This is the absolute lowest the rate has even been. Something like 0.93%. Hoping the credit pull happened yesterday and waiting for whatever else is needed to solidify locking in whatever the rate will be at that time. Currently on a loan with mortgage insuance of about $400 a month. Glad to absorb that into the sorter term payment increase so it doesnt kill s as much. Im expecting a payment increase of at least $800 net. Not fun at all and will require budgeting big time but worth it.Quote:
Originally Posted by Shaggy Hiker
I tried to re-fi to a 10-year at the depths of the recession. Couldn't do it, because my house was underwater. The loan officer was stunned. He told me that the valuation of my house was less than the material to build it. It was getting down near the value of the land it was on. I did manage to get a 15 year, though, and the rate was 3.75%, which I was pretty happy with.
Now it's 0, though. Paid off the house a few years back which was like getting a MASSIVE raise.
Bloody noobs.
Attachment 175139Quote:
Couldn't do it, because my house was underwater.
I resemble that remark.
Because of your pineapple avatar. Not fish in a dish
I'm a bad enough artist to go with what people see, rather than what I intended.
Its side show bob hiding behind a big vase lol
I'm going out on a limb here, and guessing that the word "side" is not what you meant, but I could be wrong.
Totally misread that post.