Mortgage Rates

[albundyz]

I have 4 7/8% adjustable

it expires in 13 months

done purposely because I retire in 6 months and my wife retires in 9 months. I knew ahead of time when I would retire.

we may sell, or refinance, just one of a zillion decisions to make during the next year.

 

[clifp]

15 year fixed @ 4 7/8%. When my ex-girlfriend and I bought a house together, I paid for my 1/2 in cash she paid for her half with 40% cash, 60% this loan. Unbelievable as it seemed at the time, the dumb mortgage broker and BofA wanted me to co-sign for the loan.
I first argued with them. "Gee guys we just put down almost $500K in cash on $700K house, do you really think we are going walk away from this loan." Finally, I agree although I drew the line at lying on the loan application (it is perjury after all) as the mortgage broker suggested. (It does make you wonder when mortgage broker suggested creative writing on A+ loan, what do they do advise clients to do when they have poor credit.)

As it turned out me co-signing was a good thing because when girlfriend and I split up a few years latter, I was able to assume the loan after paying $300 fee (grumble).

 

[martyb]

Wow! It appears I have the worst deal on the board....6.5% fixed since '96. It was good at the time, and I never thought it was worth the cost to refinance because I kept thinking we were gonna only be in the house maybe one or two more years etc. etc. etc. So now...we are REALLY getting ready to put it on the market, just a few more fix-ups & the sign goes in the yard!

 

[CCdaCE]

ARM.

Started at 4.0% in '03. Stayed at 4 in '04, then 5.0% in '05, then 6.0% in '06. Hopefully it'll stay there if the Fed lays low for awhile. Maybe it'll go to 7.0%. I haven't looked at the paperwork since Aug., I forget. IIRC, it's similar to Justin's.

30 yr. fixed was 5.35% (I think?) when I locked in the 4.0% ARM.

Also, I expected to move within 3-5 years. Dunno if that'll end up happening. Might be 3 years from now.

-CC

 

[turk]

refi in 2002 from30yr fixed to 15 yr fixed at 4.875%. 11 years to go

 

[Dog]

Refinanced in 2005 at 5.125 on 30 year fixed. We are paying extra each month to have loan paid off in 15 years.

 

[califdreamer]

5 yr ARM @5% resets next Jan. 30 yr loan. Tempted to re-fi now since rates look attractive. Might wait it out though.

 

[dumpster56]

6% 30 year on a 48K loan. Can and will have it paid in full in less than 5 years.

 

[W2R]

No mortgage. No car loan. No household loans. No other loans. No credit cards.

At least I'm consistent! Well, I do have a HELOC but haven't borrowed a cent with it so I might as well close it.

I had a 30 year fixed rate mortgage at 6.38%, but paid it off in 4 years so I have joined the "0%" camp. Now, I am amazed at how fast the money accumulates without mortgage payments.

 

[WanderALot]

15-yr. 5% fixed. Didn't pay any closing costs, just the appraisal fee. Could have gotten 4.75% if I paid some closing costs, probably should have.

 

[cons]

i think i have everyone beat

30-yr fixed @ 6.75% in may/june of last year

good credit..80/10/10 loan

rates were going up at the time, i think the 10-yr note was ~5.25 and going up

can't refi for 3 years

 

[Callie]

4.875 - 15 year, we have 10.5 years left

 

[free4now]

5/1 ARM @ 3.75%. Will adjust in a year or so but I'll have sold by then (knock on wood).