Rate on 30 year fixed dropped below 3%.

https://www.msn.com/en-us/mone...en-lower/ar-BB16PzgN

I refinanced the mortgage on my Santa Fe home last month at 3.25%. I'm not losing any sleep about "missing out" on 2.95% ...

Now, if it goes to 1.5% ....

Thanks for the reminder wtg. I just started the application at my bank.

Pm me. I’ll hook you you up with a lender who can get the job done.

Many can’t.

I saw this today and had me remembering my very first mortgage at 15%!!

The bank is always calling me to refinance my equity line (that I never use) but I have some construction work coming up so might be a good time to call them back.

Back in the day, I had a first trust deed at 18%, negative amortizing. It was the best loan I could get at the time.

It pretty much sucked but it made sure we were worked hard as we could to make sure we could turn that house as quickly as possible. It also contributed to my red hot hatred of banks, Bankers, Wall Street, lenders, and everybody else involved in that industry. This hatred has served me well to this day.

May their wives be plagued with runners in their hose.

That high interest period was the first time I really stood up for myself...where it mattered.

I had made an offer on a fixer upper.. for $55K. The first local bank, in the same town where I lived and where the house was located, turned me down. I had just a week to go before the deal would fall through.

So I went to the sister bank in the next town, with my paper application but I insisted on handing to the bank manager in person...I walked in and told him I was about to apply but if he was going to turn me down, tell me now so I can get out of the deal....I was pissed but polite..and young and headstrong...

He smiled, invited me to sit down. He looked over my application and started to tell me that he started in construction and worked on the very neighborhood I was looking to buy in. We talked about the improvements it needed, I was aware and I pointed out that I as buying it for less than market value for that very reason.

I was approved by the end of that day. I was a single 24 year old woman in 1984. It was quite an accomplishment for me.

I was not pissed at bankers at that point, just needed to find the right one, I guess.

quote:

Originally posted by Steve Miller:
Pm me. I’ll hook you you up with a lender who can get the job done.

Many can’t.

Steve, we talked to her yesterday. Locked in a refi at 2.9% today. Love her! Very easy to work with and fun to talk to. Thank you!

quote:

Originally posted by piqué:

quote:

Originally posted by Steve Miller:
Pm me. I’ll hook you you up with a lender who can get the job done.

Many can’t.

Steve, we talked to her yesterday. Locked in a refi at 2.9% today. Love her! Very easy to work with and fun to talk to. Thank you!

That’s great! So glad she could help!

Muffin's Sister is buying a house this fall. This is excellent news for her!

My son and his wife bought their house after the 2008 recession and got a ridonculous price on a house in a nice neighborhood where there had been a lot of foreclosures. The neighborhood has bounced back strong, and now they're twelve years into paying for a four-bedroom house that's all they could ever need to raise their family.

Getting that kind of lucky break when you're 25 has a massive positive impact on the rest of your financial life. For interest rates to be this low when his sister is starting over will give her the same kind of boost.

Steve--I figured you're likely to know whether the interest rate drop is affecting rates for rental/investment property. The last couple of rate drops were insignificant for rentals (though we did reduce our home/primary residence and are likely to do it again).