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Posted: 9/18/2019 2:11:27 PM EST
[#1]
Quote HistoryQuoted:
That's an outstanding rate. I remember when the bullshit HAMP program got kicked off, and people were getting 2% rates. They'd still bitch about their payments not being affordable or the rate too high. Quote HistoryQuoted:
Quoted: Mine is 3.02%. Shit really has to get bad for it to be worthwhile to refi. I remember when the bullshit HAMP program got kicked off, and people were getting 2% rates. They'd still bitch about their payments not being affordable or the rate too high. |
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Posted: 9/18/2019 2:14:34 PM EST
[#2]
I'm at a 4.125% (245K owed)
Should I refinance? |
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Posted: 9/18/2019 2:15:36 PM EST
[#3]
Perfect time to refi!
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Posted: 9/18/2019 2:20:09 PM EST
[#4]
Quote HistoryQuoted:
I'm at a 4.125% (245K owed) Should I refinance? |
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Posted: 9/18/2019 2:23:50 PM EST
[#5]
Wonder if we should look at a refi. We just closed back in march.
$362k 30 years 4.375%. We pay biweekly. Can you even refi with less than a year on the loan? |
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Posted: 9/18/2019 2:24:25 PM EST
[#6]
Quote HistoryQuoted:
I'm at a 4.125% (245K owed) Should I refinance? Last time I refinanced, it only cost me about $325 for closing costs. |
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Posted: 9/18/2019 2:46:27 PM EST
[#7]
I'm at 0%.
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Posted: 9/18/2019 2:47:24 PM EST
[#8]
Quote HistoryQuoted:
Wonder if we should look at a refi. We just closed back in march. $362k 30 years 4.375%. We pay biweekly. Can you even refi with less than a year on the loan? |
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Posted: 9/18/2019 2:47:58 PM EST
[#9]
Quote HistoryQuoted:
if you can find someplace with cheap closing costs. Last time I refinanced, it only cost me about $325 for closing costs. Quote HistoryQuoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? Last time I refinanced, it only cost me about $325 for closing costs. |
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Posted: 9/18/2019 2:48:07 PM EST
[#10]
Quote HistoryQuoted:
I'm at a 4.125% (245K owed) Should I refinance? |
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Posted: 9/18/2019 2:49:05 PM EST
[#11]
Quote HistoryQuoted: Yes, my mortgage company is trying to get me to refinance and I'm at a year. |
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Posted: 9/18/2019 2:49:05 PM EST
[#12]
Quote HistoryQuoted:
Wonder if we should look at a refi. We just closed back in march. $362k 30 years 4.375%. We pay biweekly. Can you even refi with less than a year on the loan? |
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Posted: 9/18/2019 2:49:59 PM EST
[#13]
Quote HistoryQuoted:
Guess i dont understand it enough. But why would your mortgage company want you to refinance a loan you have with them to get a lower rate to pay less interest? Quote HistoryQuoted:
Quoted: Yes, my mortgage company is trying to get me to refinance and I'm at a year. |
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Posted: 9/18/2019 2:51:16 PM EST
[#14]
Quote HistoryQuoted:
Holy shit. My mortgage guy is trying to hit me for 6k. Quote HistoryQuoted:
Quoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? Last time I refinanced, it only cost me about $325 for closing costs. |
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Posted: 9/18/2019 2:51:20 PM EST
[#15]
I am honestly surprised the Fed decided to do that.
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Posted: 9/18/2019 2:55:28 PM EST
[#16]
If they would like to keep this going till, say April. That would be great.
That's when we are buying our house. 
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Posted: 9/18/2019 2:55:44 PM EST
[#17]
Quote HistoryQuoted:
Guess i dont understand it enough. But why would your mortgage company want you to refinance a loan you have with them to get a lower rate to pay less interest? A buddy of mine refi'd before he ever made his first payment. |
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Posted: 9/18/2019 2:56:22 PM EST
[#18]
Quote HistoryQuoted:
7 are calling for a further cut. They may be back at 0 in a few years. Quote HistoryQuoted:
Quoted:
I'm not surprised. |
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Posted: 9/18/2019 2:57:53 PM EST
[#19]
Quote HistoryQuoted:
I am honestly surprised the Fed decided to do that. |
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Posted: 9/18/2019 3:04:54 PM EST
[#20]
Quote HistoryQuoted:
This is good for me. Since wife decided to divorce me and is leaving, I need to refinance my house in my name to remove her. A lower interest rate on a conventional loan will be beneficial to me in the long run. CMOS 
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Posted: 9/18/2019 3:07:14 PM EST
[#21]
Quote HistoryQuoted:
There are free online calculators that will provide you with the exact data you are seeking. Likely you'll benefit on a refi within the first year. Quote HistoryQuoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? When you refi, you are starting completely over with regards to paying all the "new" interest first with each payment, right? If I'm correct, there's got to be a line where refi does and does not make sense - ? CMOS |
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Posted: 9/18/2019 3:09:49 PM EST
[#22]
Quote HistoryQuoted:
Serious question about refi's: When you refi, you are starting completely over with regards to paying all the "new" interest first with each payment, right? If I'm correct, there's got to be a line where refi does and does not make sense - ? CMOS Quote HistoryQuoted:
Quoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? When you refi, you are starting completely over with regards to paying all the "new" interest first with each payment, right? If I'm correct, there's got to be a line where refi does and does not make sense - ? CMOS |
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Posted: 9/18/2019 3:11:18 PM EST
[#23]
Quote HistoryQuoted:
Guess i dont understand it enough. But why would your mortgage company want you to refinance a loan you have with them to get a lower rate to pay less interest? |
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Posted: 9/18/2019 3:20:10 PM EST
[#24]
Very Divided FOMC Cuts Rates As Expected, Fails To Address Liquidity Crisis, Sees No More 2019 Cuts by Tyler Durden 
Wed, 09/18/2019 - 14:07 Summary: The following critical things stand out: Fed cuts both the fed funds (by 25bps to 1.75%-2.00%) and IOER (by 30bps to 1.8%) rates as expected, but does not expect any more rate cuts in 2019; the terminal rate was kept unchanged at 2.5%. The Fed has never been more divided: 7-3 vote to cut; Esther L. George and Eric S. Rosengren voted to keep rates unchanged; Bullard voted for a 50bps rate cut (guaranteeing him the job over Kashkari when Trump fires Powell); 7 FOMC members predicted another cut this year, while 10 say hold or raise. Hawkish: even among the dissenters, not a single FOMC member expected more than 1 rate cut any time in the future. No mention of POMO or permanent repo ops: with consensus shifting rapidly to expect some major liquidity injections from the Fed namely POMO, watch overnight repo rates explode overnight as Powell failed to provide any repo support; what the Fed did do is announce it would lower the offering rate for overnight repos to 1.70%, 5bps below the bottom of the EFFR - this will hardly be sufficient for the market. In summary, Powell has dismissed the significance of funding volatility and sounds hawkish to those that saw these issues as requiring the Fed to restart POMO and grow the balance sheet again. Must rescue failing economy!!! 
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Posted: 9/18/2019 3:21:12 PM EST
[#25]
Outraged Trump Slams "Terrible Communicator" Powell: "He Failed Again" It wasn't just the market that was disappointed by Powell's lack of a QE or POMO announcement: so was the president. Moments after Powell cut rates by 25bps, very much in line with Trump's expectations, and sparked a favorable initial kneejerk reaction, the market slumped when it realized that contrary to expectations, Powell failed to announce a POMO/QE Lite. Apparently Trump figured it out too, because several weeks after Trump asked for the first time for "some QE", Powell failed to deliver, and this in turn sparked the furious president to lash out at Powell when he tweeted "Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!" Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator! — Donald J. Trump (@realDonaldTrump) September 18, 2019 At this rate we would venture to guess that Powell's job is only safe until the next 10% correction; at that point he may as well tender his resignation. |
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Posted: 9/18/2019 4:03:45 PM EST
[#26]
Quote HistoryQuoted: Is that even possible? Will there be a day when we get PAID to take out a loan?!  |
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Posted: 9/18/2019 4:14:52 PM EST
[#27]
Quote HistoryQuote HistoryQuoted:
Outraged Trump Slams "Terrible Communicator" Powell: "He Failed Again" It wasn't just the market that was disappointed by Powell's lack of a QE or POMO announcement: so was the president. Moments after Powell cut rates by 25bps, very much in line with Trump's expectations, and sparked a favorable initial kneejerk reaction, the market slumped when it realized that contrary to expectations, Powell failed to announce a POMO/QE Lite. Apparently Trump figured it out too, because several weeks after Trump asked for the first time for "some QE", Powell failed to deliver, and this in turn sparked the furious president to lash out at Powell when he tweeted "Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!" Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator! — Donald J. Trump (@realDonaldTrump) September 18, 2019 At this rate we would venture to guess that Powell's job is only safe until the next 10% correction; at that point he may as well tender his resignation. 
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Posted: 9/18/2019 4:14:53 PM EST
[#28]
Quote HistoryQuoted:
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Posted: 9/18/2019 4:29:50 PM EST
[#29]
Quote HistoryQuoted: How did we get out of our great depression? I predict WAR. We will prevail in the traditional battlefield but I believe the battlefield will be extended to our home front in the next war to include our computer systems. Banks, utility grids, etc etc Soft targets that can be attacked from a world away and take down a lot of what we are fighting for. |
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Posted: 9/18/2019 4:34:08 PM EST
[#30]
Quote HistoryQuoted: How did we get out of our great depression? I predict WAR. We will prevail in the traditional battlefield but I believe the battlefield will be extended to our home front in the next war to include our computer systems. Banks, utility grids, etc etc Soft targets that can be attacked from a world away and take down a lot of what we are fighting for. |
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Posted: 9/18/2019 4:48:38 PM EST
[#31]
This should surprise nobody.
If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly |
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Posted: 9/18/2019 5:01:59 PM EST
[#32]
Quote HistoryQuoted:
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Posted: 9/18/2019 5:03:01 PM EST
[#33]
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Posted: 9/18/2019 5:44:10 PM EST
[#34]
Quote HistoryQuoted:
Holy shit. My mortgage guy is trying to hit me for 6k. Quote HistoryQuoted:
Quoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? Last time I refinanced, it only cost me about $325 for closing costs. |
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Posted: 9/18/2019 5:55:53 PM EST
[#35]
The Fed has a mandate to work towards and keeping a 2.00% inflation rate as measured by the real consumer price index. They have failed since that rate has been mandated to meet 2.00% inflation since then. Inflation this year only showing at .90% through July.
If a cure to high inflation is to raise interest rates, then the opposite is true when you want inflation higher. This is not a surprise that the fed dropped rates and they may go lower those looking to refinance should be able to get in at 3.5% or lower if not now, soon. |
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Posted: 9/18/2019 6:04:22 PM EST
[#36]
Quote HistoryQuoted:
Same. Quote HistoryQuoted:
Quoted:
I am honestly surprised the Fed decided to do that. @Admiral_Crunch Why are you guys surprised? Powel and most importantly the market has telegraphed the rate cut. |
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Posted: 9/18/2019 6:12:50 PM EST
[#37]
best refi calc?
or all they all the same? |
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Posted: 9/18/2019 6:18:34 PM EST
[#38]
Quote HistoryQuoted:
The Fed has a mandate to work towards and keeping a 2.00% inflation rate as measured by the real consumer price index. They have failed since that rate has been mandated to meet 2.00% inflation since then. Inflation this year only showing at .90% through July. If a cure to high inflation is to raise interest rates, then the opposite is true when you want inflation higher. This is not a surprise that the fed dropped rates and they may go lower those looking to refinance should be able to get in at 3.5% or lower if not now, soon.
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Posted: 9/18/2019 6:31:49 PM EST
[#39]
Quote HistoryQuoted:
Guess i dont understand it enough. But why would your mortgage company want you to refinance a loan you have with them to get a lower rate to pay less interest? |
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Posted: 9/18/2019 6:39:14 PM EST
[#40]
Quote HistoryQuoted:
This should surprise nobody. If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly The number one role of fed is controlling inflation and avoiding deflation. The fed is doing its job and maintaining inflation while avoiding deflation. |
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Posted: 9/18/2019 6:40:57 PM EST
[#41]
Quote HistoryQuoted:
best refi calc? or all they all the same? |
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Posted: 9/18/2019 6:44:58 PM EST
[#42]
Quote HistoryQuoted:
Serious question about refi's: When you refi, you are starting completely over with regards to paying all the "new" interest first with each payment, right? If I'm correct, there's got to be a line where refi does and does not make sense - ? CMOS Quote HistoryQuoted:
Quoted:
Quoted:
I'm at a 4.125% (245K owed) Should I refinance? When you refi, you are starting completely over with regards to paying all the "new" interest first with each payment, right? If I'm correct, there's got to be a line where refi does and does not make sense - ? CMOS |
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Posted: 9/18/2019 6:49:40 PM EST
[#43]
Not sure if I can beat my 3.7 fixed rate VA loan.
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Posted: 9/18/2019 6:49:58 PM EST
[#44]
Quote HistoryQuoted:
This should surprise nobody. If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly I agree the end is more likely to be inflation than deflation. |
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Posted: 9/18/2019 6:50:13 PM EST
[#45]
Quote HistoryQuoted:
The doomed keeps posting. The number one role of fed is controlling inflation and avoiding deflation. The fed is doing its job and maintaining inflation while avoiding deflation. Quote HistoryQuoted:
Quoted:
This should surprise nobody. If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly The number one role of fed is controlling inflation and avoiding deflation. The fed is doing its job and maintaining inflation while avoiding deflation. The PhDs hired by the Fed's role is to keep everything together as long as possible while the theft takes place. Success is measured by purchasing power of the federal reserve note during the last 100+ years. 
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Posted: 9/18/2019 6:52:24 PM EST
[#46]
Quote HistoryQuoted:
This should surprise nobody. If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly |
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Posted: 9/18/2019 7:14:15 PM EST
[#47]
Quote HistoryQuoted:
Not sure if I can beat my 3.7 fixed rate VA loan. |
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Posted: 9/18/2019 7:23:45 PM EST
[#48]
Quote HistoryQuoted:
In the process of OT buying a house. Hopefully rates keep dropping and I can get a very low rate  |
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Posted: 9/18/2019 7:30:01 PM EST
[#49]
Quote HistoryQuoted:
The role of the Fed is to replace our gold with worthless paper, transferring our wealth to its private banking family owners. The PhDs hired by the Fed's role is to keep everything together as long as possible while the theft takes place. Success is measured by purchasing power of the federal reserve note during the last 100+ years. http://www.gold-eagle.com/sites/default/files/vronsky103113-1a.jpg Quote HistoryQuoted:
Quoted:
Quoted:
This should surprise nobody. If we actually allowed interest rates to rise the air would come out of our debt fueled bubble economy while the federal budget is simultaneously getting destroyed by higher interest costs. IIRC 5% interest rates (the historic norm) would eventually result in $1 trillion a year just for interest on the debt. (we currently spend about $350b) Poof nearly 30% of tax receipts go just to interest payments. Oh, did I mention the economy would be in the shitter so tax receipts would likely be much lower than the 3.5 trillion we take in now during "the boom". And let's not forget all those newly unemployed people are going to be hopping on welfare and we'll be borrowing assloads of money to pay for a bunch of keynesian infrastructure and "stimulus" programs in a futile effort to kickstart the economy further blowing up our annual deficits. The sad thing is, we absolutely need much higher interest rates if we ever want to return to sanity and have a legitimate, sustainable and dynamic economy again. Politicians are going to choose inflation and phony growth over deflation and economic sanity every single time. Prepare accordingly The number one role of fed is controlling inflation and avoiding deflation. The fed is doing its job and maintaining inflation while avoiding deflation. The PhDs hired by the Fed's role is to keep everything together as long as possible while the theft takes place. Success is measured by purchasing power of the federal reserve note during the last 100+ years. http://www.gold-eagle.com/sites/default/files/vronsky103113-1a.jpg |
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Posted: 9/18/2019 7:42:36 PM EST
[#50]
Quote HistoryQuoted:
Not sure if I can beat my 3.7 fixed rate VA loan.
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