PSA - Mortgage Rates are DOWN

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Hokahey
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PSA - Mortgage Rates are DOWN

#1 Post by Hokahey » Mon Jan 27, 2020 8:08 pm

When the market opens tomorrow I will likely be looking at the lowest interest rates in 3-4 years. Just an FYI to anyone sitting at 4% or higher. Call your trusted mortgage advisor or PM me and I'll take care of you.

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Pandemonium
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Re: PSA - Mortgage Rates are DOWN

#2 Post by Pandemonium » Mon Jan 27, 2020 10:44 pm

Hokahey wrote:
Mon Jan 27, 2020 8:08 pm
When the market opens tomorrow I will likely be looking at the lowest interest rates in 3-4 years. Just an FYI to anyone sitting at 4% or higher. Call your trusted mortgage advisor or PM me and I'll take care of you.
I’ve got a 2% fixed rate on my 25 year mortgage. Beat that.

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Re: PSA - Mortgage Rates are DOWN

#3 Post by mockbee » Tue Jan 28, 2020 9:20 am

Pandemonium wrote:
Mon Jan 27, 2020 10:44 pm

I’ve got a 2% fixed rate on my 25 year mortgage. Beat that.
How the hell did you get that rate without an ARM? :hs: :noclue:

I have a couple 3.61% fixed 30 Yr and I thought that was good. :bored:

:tiphat:

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Re: PSA - Mortgage Rates are DOWN

#4 Post by Hype » Tue Jan 28, 2020 12:36 pm

I've got 10yr fixed 3.6% up here in Canada (in year 6 of that now though) for a 25 yr. I'm leaning 5 yr variable for the next term though. :noclue: Planning to max out the payments incl. permitted lump sums as soon as financially feasible. Worrying about tenths of a percent here and there seems a bit counterproductive if you've also got other debts at way higher rates. Obviously it's a lot of interest over the entire period, and you can cut a ton of that out, but it's balancing game with other costs/interests/time/energy, etc.

No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.

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Re: PSA - Mortgage Rates are DOWN

#5 Post by SR » Tue Jan 28, 2020 2:06 pm

I'm good on interest rate, but after 20 years here I like to look at the equity at this point. :thumb:

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Re: PSA - Mortgage Rates are DOWN

#6 Post by creep » Tue Jan 28, 2020 6:50 pm

Hype wrote:
Tue Jan 28, 2020 12:36 pm
No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
I assume you are teaching or something to do with education? Why Missouri? Couldn't you look anywhere? Didn't you like Wisconsin when you were there?

I like Southern Missouri :noclue:

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Re: PSA - Mortgage Rates are DOWN

#7 Post by Hokahey » Tue Jan 28, 2020 6:59 pm

Hype wrote:
Tue Jan 28, 2020 12:36 pm
I've got 10yr fixed 3.6% up here in Canada (in year 6 of that now though) for a 25 yr. I'm leaning 5 yr variable for the next term though. :noclue: Planning to max out the payments incl. permitted lump sums as soon as financially feasible. Worrying about tenths of a percent here and there seems a bit counterproductive if you've also got other debts at way higher rates. Obviously it's a lot of interest over the entire period, and you can cut a ton of that out, but it's balancing game with other costs/interests/time/energy, etc.

No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
St Louis has a lot more history and character than Kansas City. But I love Kansas City as well. I'm there around 10 weekends out of the year for Chiefs games and to see family.

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Re: PSA - Mortgage Rates are DOWN

#8 Post by Hokahey » Tue Jan 28, 2020 7:00 pm

creep wrote:
Tue Jan 28, 2020 6:50 pm
Hype wrote:
Tue Jan 28, 2020 12:36 pm
No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
I assume you are teaching or something to do with education? Why Missouri? Couldn't you look anywhere? Didn't you like Wisconsin when you were there?

I like Southern Missouri :noclue:
Springfield is great. College town.

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Re: PSA - Mortgage Rates are DOWN

#9 Post by mockbee » Tue Jan 28, 2020 7:30 pm

Hokahey wrote:
Tue Jan 28, 2020 6:59 pm

St Louis has a lot more history and character than Kansas City.
I'd like to go to St Louis and bum around for a while. :nod:

It's one of the last major/historical US cities I've never been to....
:noclue:

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Re: PSA - Mortgage Rates are DOWN

#10 Post by Pandemonium » Tue Jan 28, 2020 9:38 pm

mockbee wrote:
Tue Jan 28, 2020 9:20 am
Pandemonium wrote:
Mon Jan 27, 2020 10:44 pm

I’ve got a 2% fixed rate on my 25 year mortgage. Beat that.
How the hell did you get that rate without an ARM? :hs: :noclue:

I have a couple 3.61% fixed 30 Yr and I thought that was good. :bored:

:tiphat:
During the financial crisis around 2010, in another search to refi our mortgage we discovered our mortgage was technically and legally flawed and we could basically get out of it and possibly even keep the house free and clear. Although that ultimately turned out not to be possible, we literally were able to stop making payments for 6 months while the legal haggling dragged on until we discovered we then qualified as we were technically in default on our mortgage for the Federal Loan Modification Program which got us the 2% rate.

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Re: PSA - Mortgage Rates are DOWN

#11 Post by Hype » Wed Jan 29, 2020 3:23 am

creep wrote:
Tue Jan 28, 2020 6:50 pm
Hype wrote:
Tue Jan 28, 2020 12:36 pm
No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
I assume you are teaching or something to do with education? Why Missouri? Couldn't you look anywhere? Didn't you like Wisconsin when you were there?

I like Southern Missouri :noclue:
I love Wisconsin, but it's not as cheap to live in Madison as it is to live in backwoods Missouri. I'm not seriously looking at moving to Missouri, but just daydreaming a bit about where I could get a huge lot and/or a decent-sized house for the same price as the relatively small place I own now because the Toronto market is so overheated it's effectively San Francisco at this point: https://www.blogto.com/real-estate-toro ... co-london/

Obviously that also means there are way more jobs here than Nowhereseville, USA. But it's fun to look at what I could get. Look at this place: https://www.zillow.com/homedetails/2933 ... 8036_zpid/ ! 3 bed, 3 bath, nearly 3,000 sq. ft, for 415k. Do you know what that gets you in Toronto? A very small condo. In the outskirts of the GTA? A very small townhome, maybe. 600-1500 sq. ft.

I also like looking at Arizona, for similar reasons, and because the climate is awesome. Same deal.

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Re: PSA - Mortgage Rates are DOWN

#12 Post by mockbee » Wed Jan 29, 2020 3:45 am

Hype wrote:
Wed Jan 29, 2020 3:23 am
creep wrote:
Tue Jan 28, 2020 6:50 pm
Hype wrote:
Tue Jan 28, 2020 12:36 pm
No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
I assume you are teaching or something to do with education? Why Missouri? Couldn't you look anywhere? Didn't you like Wisconsin when you were there?

I like Southern Missouri :noclue:
I love Wisconsin, but it's not as cheap to live in Madison as it is to live in backwoods Missouri. I'm not seriously looking at moving to Missouri, but just daydreaming a bit about where I could get a huge lot and/or a decent-sized house for the same price as the relatively small place I own now because the Toronto market is so overheated it's effectively San Francisco at this point: https://www.blogto.com/real-estate-toro ... co-london/

Obviously that also means there are way more jobs here than Nowhereseville, USA. But it's fun to look at what I could get. Look at this place: https://www.zillow.com/homedetails/2933 ... 8036_zpid/ ! 3 bed, 3 bath, nearly 3,000 sq. ft, for 415k. Do you know what that gets you in Toronto? A very small condo. In the outskirts of the GTA? A very small townhome, maybe. 600-1500 sq. ft.

I also like looking at Arizona, for similar reasons, and because the climate is awesome. Same deal.
Do you like Toronto? Why would you leave if you liked it?

I've lived for a spell in 5 of those top 20 most unaffordable places to live.
I always leave a place when the quality of life gets really sucky.
This gentrification on steroids really kills a place..... :no:

And what are you talking about??? Arizona climate SUUUUUUCKS! 116 F for 3-4 months of the year?! Yuck! :confused:

Coastal California is the best climate ever.....
:wave:

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Re: PSA - Mortgage Rates are DOWN

#13 Post by Hype » Wed Jan 29, 2020 3:51 am

mockbee wrote:
Wed Jan 29, 2020 3:45 am
Hype wrote:
Wed Jan 29, 2020 3:23 am
creep wrote:
Tue Jan 28, 2020 6:50 pm
Hype wrote:
Tue Jan 28, 2020 12:36 pm
No joke (okay, kind of joke), I was looking at houses in Missouri to see how much better a place I could get down there compared to the greater Toronto area, and it's amazing. But then I'd have to live in Missouri, and I think I'd only be comfortable in Kansas City.
I assume you are teaching or something to do with education? Why Missouri? Couldn't you look anywhere? Didn't you like Wisconsin when you were there?

I like Southern Missouri :noclue:
I love Wisconsin, but it's not as cheap to live in Madison as it is to live in backwoods Missouri. I'm not seriously looking at moving to Missouri, but just daydreaming a bit about where I could get a huge lot and/or a decent-sized house for the same price as the relatively small place I own now because the Toronto market is so overheated it's effectively San Francisco at this point: https://www.blogto.com/real-estate-toro ... co-london/

Obviously that also means there are way more jobs here than Nowhereseville, USA. But it's fun to look at what I could get. Look at this place: https://www.zillow.com/homedetails/2933 ... 8036_zpid/ ! 3 bed, 3 bath, nearly 3,000 sq. ft, for 415k. Do you know what that gets you in Toronto? A very small condo. In the outskirts of the GTA? A very small townhome, maybe. 600-1500 sq. ft.

I also like looking at Arizona, for similar reasons, and because the climate is awesome. Same deal.
Do you like Toronto? Why would you leave if you liked it?

I've lived for a spell in 5 of those top 20 most unaffordable places to live.
I always leave a place when the quality of life gets really sucky.
This gentrification on steroids really kills a place..... :no:

And what are you talking about??? Arizona climate SUUUUUUCKS! 116 F for 3-4 months of the year?! Yuck! :confused:

Coastal California is the best climate ever.....
:wave:
I love Toronto, and yeah, leaving Canada would be difficult (free healthcare is the best, but then I wouldn't go south without health insurance anyway). Not planning to leave, just looking at what I could get if I sold my house and bought something in some relatively depressed market (compared to T.O.). :lol: Seriously, just looking at KC, MO, for the price of a regular-sized 3 bdrm family home out here, I could get a 4,000 sq ft+ mansion. :confused:

Image

As for AZ... I like the dry heat. :noclue: Humid summers and damp cold winters are annoying.

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Re: PSA - Mortgage Rates are DOWN

#14 Post by mockbee » Wed Jan 29, 2020 4:07 am

Hype wrote:
Wed Jan 29, 2020 3:51 am

As for AZ... I like the dry heat. :noclue: Humid summers and damp cold winters are annoying.
Well, if you got out of Phoenix GMA you might be alright. Just in there you got major pollution to deal with as well.

I agree with the midwest/plains climate totally sucking. Haven't lived there, but man it would be rough.

NW climate is pretty great as well.
Summers are fantastic, like best ever because everything is still so green and the weather is 70-80 F all the time and sunny.
Winters are alright, lots of rain, but just more reason to stay in and get stuff done that you care about.
And lots of times, like yesterday, the weather is really dynamic, where it will rain then clear up and the sun will just glisten on everything like the heavens are opening up....
:nod:

Image

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Re: PSA - Mortgage Rates are DOWN

#15 Post by Hype » Wed Jan 29, 2020 4:17 am

I could live in the greater Vancouver area, but it would be as expensive as where I am now, which is much less fun to daydream about. :lol:

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Re: PSA - Mortgage Rates are DOWN

#16 Post by creep » Wed Jan 29, 2020 5:18 am

Hype wrote:
Wed Jan 29, 2020 3:23 am
https://www.zillow.com/homedetails/2933 ... 8036_zpid/ ! 3 bed, 3 bath, nearly 3,000 sq. ft, for 415k.
Image

The one thing I hate about houses in the Midwest is that no one has a fence around their house. Do you just let your dog run loose?Do your neighbors stare at you while you barbecue in your backyard? Out west every home with a normal lot has a fence around it.

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Re: PSA - Mortgage Rates are DOWN

#17 Post by Hype » Wed Jan 29, 2020 5:25 am

That is weird. Most neighbourhoods up here have fenced in backyards. The exception is, maybe, new developments, but that's usually because they're waiting for the developer to put the fence up, or maybe making arrangements to pay for it with their neighbours.

I'd probably look for a secluded lot, and put up my own fence. :noclue:

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Re: PSA - Mortgage Rates are DOWN

#18 Post by Hokahey » Wed Jan 29, 2020 6:25 am

Hype wrote:
Wed Jan 29, 2020 3:23 am
backwoods Missouri.
I've lived in every region of the United States. I've traveled to most every major city. Missouri is like every other state that is not deep south. It's rural areas are red and its urban centers are very liberal.

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Re: PSA - Mortgage Rates are DOWN

#19 Post by Hokahey » Wed Jan 29, 2020 6:26 am

creep wrote:
Wed Jan 29, 2020 5:18 am
Hype wrote:
Wed Jan 29, 2020 3:23 am
https://www.zillow.com/homedetails/2933 ... 8036_zpid/ ! 3 bed, 3 bath, nearly 3,000 sq. ft, for 415k.
Image

The one thing I hate about houses in the Midwest is that no one has a fence around their house. Do you just let your dog run loose?Do your neighbors stare at you while you barbecue in your backyard? Out west every home with a normal lot has a fence around it.
Most of us have backyard fences. Every neighborhood I've ever lived in in the midwest has backyard fences.

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Re: PSA - Mortgage Rates are DOWN

#20 Post by Hype » Wed Jan 29, 2020 7:21 am

Hokahey wrote:
Wed Jan 29, 2020 6:25 am
Hype wrote:
Wed Jan 29, 2020 3:23 am
backwoods Missouri.
I've lived in every region of the United States. I've traveled to most every major city. Missouri is like every other state that is not deep south. It's rural areas are red and its urban centers are very liberal.
I believe you -- this is true everywhere, not just the US. But there are rough sociocultural/economic indicators that help determine things like livability, cost of living, etc. Sometimes it could just be how long a place has had a certain governor, or mayor, or whatever.

I do love BBQ and forests and Mark Twain, though. :lol:

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