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#1
08-06-2015, 10:27 AM
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Interest rates due to go up / Any deals out there?
The FOMO or whatever its called has just released news that it believes the Fed will raise rates in 45 days or so. We are in a good spot with our existing loan but always looking for better rates and options. Problem for us is that when we refied we were not married and the wife took the loan because she scored better imagine that. What she didn't cover was the PMI conditions and they are very bad in this loan. So we are looking for options and better rates before they go up.
Anyone have a credit union with good rates?
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 69 OHC ZH Sprint Hurst 3 Speed 3:55 (1 of 213) 99 Valkyrie 1520cc Flat 6 108hp/110tq - For Sale http://sohcsix.yuku.com/forums/1/OHC-lounge Wanted: 1969 OHC "H" Camshaft |
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#2
08-06-2015, 11:54 AM
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yours are going up and ours are going down. Hmmmm
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It's hard to soar like an eagle, when you're surrounded by turkeys! My wife says she'd llike my car a lot more if it wasn't mine.   64 Grand Prix 389 .030, 1.65 Scorpion Rollers, Tripower, RARE Long Branch, Custom Stainless Exhaust and mufflers, 3.90 posi 200-4R. 068 cam. |
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#3
08-06-2015, 12:03 PM
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Mortgage rates just went down a hair due to two weeks of flat economic state...... hover below 4%....
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72 Bird |
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#4
08-06-2015, 12:40 PM
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They should change their acronym to MOFO.
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#5
08-06-2015, 02:01 PM
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Is there a way to rid of the PMI? we avoided that initially by having a 1st and a 2nd mortgage and then hit the 2nd as hard as possible every month thereby paying it off early. This was before the market crashed and rates were still somewhat high at the time so we took a hit to the wallet. Pretty sure PMI is just another scam...
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1963 Catalina 2 door hardtop 1968 Catalina 2 door sedan |
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#6
08-06-2015, 04:06 PM
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You can get rid of PMI if you have 80% loan to value generally. Your house's value times 80%.
I just refinanced an investment property at 3.5% and my principal residence at 3.125%. Both fixed rates. That's like free money! Last edited by Alanjnc; 08-06-2015 at 04:07 PM. Reason: Spelled "is" wrong :( |
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#7
08-07-2015, 09:22 AM
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I am now just able to cancel my PMI. Yes 80%, but if you hit 80% before 2 years, you have to get an appraisal. It will depend what loan you have to determine if you can do a drive by appraisal or a real one. (Cheap vs spendy), So, the cost of appraisal vs cost of paying full 2 years, I got to pay 4 extra months. It is being held hostage.
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72 Bird |
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