Same is about to happen to all of the people who waited and are expecting great deals at the end of this month.
They are in for a rude awakening.
Sometimes, folks just need to know when they have a good deal in hand.
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Different for cars. Demand for cars won’t spike like refinance applications. While some OEMs face supply disruptions, demand will drop more. Some states don’t even allow car sales now.
Oh yes I agree re demand
What I meant is, folks who had a good deal in hand last week and were planning to wait for a fire sale at month end are in for a rude awakening.
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You have a house to sell you should be hoping for a huge a drop lol.
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Mortgage rates Had a big turn around this afternoon, back at 3.5% or below for a conventional, 30 yr, conforming with good credit.
Not seeing that? Well lets hope Fed continues to buy and pump liquidity into secondary market.
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My modification finished. It took like a month for them to process the paperwork, but at least I am now down into the low 3s
It will be interesting to see if pricing starts to trend downwards after the real economic pain starts to settle in.
Hoping for the downtrend since the prices went up way too fast. Pretty sure it won’t be on the same level as the subprime crisis but I think a 15-20% correction is plausible. I would not be surprised that we start seeing some after effects of COVID in the 2nd half of the year, thinking mid Q3 time where there will be a lot more inventory out causing prices to slowly dip. Granted, a lot has to do with the rates as well. If they remain at all time lows, we’ll still be seeing prices at the highs.
It will largely be based on markets. The folks on biggerpocket must be dying
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This will make people stay put as well so inventory will be limited. Again, no way to truly determine what market does. However, if we stay locked down till July as some are pushing for it will be a whole lot of pain that will be worse than the virus. Maybe Sweden had the right idea to build herd immunity.
I was pawing through Amex Offers on one of my cards and noticed this… a $2,500 statement credit for getting a mortgage with Better.com (plus a free appraisal).
I ran a quote on a purchase scenario that I often use as a reference point, and the rate/fee combo was competitive.
Of course, read the terms thoroughly and cross-shop as you always would.
There’s a big thread on slickdeals about the Better.com program. The thing to do is get a competitive offer with a different lender, then have Better.com match/beat that offer by $1000. Then you can stack the $2500 on top.
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About to close my refi soon, just signed the closing disclosure. We are about 3 weeks from our 60 day lock expiring. Really pumped about saving 540 a month.
Now only if I could convince the wife to blow it all on a lease payment on something fancy.
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Is Better.com able to beat Costco’s rate? Maybe I’ll consider them next time.
Just closed our refi with Costco Mortgage, 30yr fixed 3.25%, $0 cost and lender gave us back $500.
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You an executive or gold member?
At least in MA, what I am seeing is…
3% for 30 yr fixed under $510K w no points
or
3.625% for 30yr fixed $511K-$690K w no points
Pretty much the standard everywhere I have looked the last 4 business days
Thats damn good…Credit unions are offering great rates as well
Rates have definitely moved up since I locked on 3/6. All my wife’s coworkers said we were stupid to lock at 3.125 on a 30 year 665k loan.
Guess I got the last 
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