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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. 2.75%

2.75%

Scheduled Pinned Locked Moved General Discussion
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  • markM Offline
    markM Offline
    mark
    wrote on last edited by
    #1

    15 year fixed.

    Getting the finances a little more healthy.

    1 Reply Last reply
    • George KG Offline
      George KG Offline
      George K
      wrote on last edited by
      #2

      Wow, that's low.

      Remember the good old days of greater than 10%? My first was 13.25% on a 30 years. I thought refinancing to a 11.5% variable was a great deal.

      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

      1 Reply Last reply
      • jon-nycJ Offline
        jon-nycJ Offline
        jon-nyc
        wrote on last edited by
        #3

        Nice.

        You were warned.

        1 Reply Last reply
        • CopperC Offline
          CopperC Offline
          Copper
          wrote on last edited by
          #4

          Those poor bankers will starve.

          1 Reply Last reply
          • JollyJ Offline
            JollyJ Offline
            Jolly
            wrote on last edited by
            #5

            That's what they're paying on CD's?😏

            “Cry havoc and let slip the DOGE of war!”

            Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

            1 Reply Last reply
            • MikM Offline
              MikM Offline
              Mik
              wrote on last edited by
              #6

              I wish. Used to make quite a bit of interest income by putting my quarterly taxes into CDs. Not anymore.

              “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

              1 Reply Last reply
              • HoraceH Offline
                HoraceH Offline
                Horace
                wrote on last edited by
                #7

                20 years ago I got an offer from a credit card company from whom I already had a card but which I never used. The offer was for 15k cash advance at 0% for a year. The catch was that any other debt on the card would be paid only after this advance was paid back. It was a way for the card company to lock in their interest on any loans behind the advance, assuming the advance wasn't paid. I tricked them by taking the advance and putting it in a CD and never using the card. Free money.

                Education is extremely important.

                1 Reply Last reply
                • JollyJ Offline
                  JollyJ Offline
                  Jolly
                  wrote on last edited by
                  #8

                  As of January, I've been mortgage free for ten years.

                  Also, it doesn't hurt that I pay no property taxes on my home.

                  “Cry havoc and let slip the DOGE of war!”

                  Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                  jon-nycJ 1 Reply Last reply
                  • MikM Offline
                    MikM Offline
                    Mik
                    wrote on last edited by
                    #9

                    Here too. But I insisted we buy a house we could support on one income. We have put quite a lot of money and improvements in over 27 years.

                    “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                    1 Reply Last reply
                    • X Offline
                      X Offline
                      xenon
                      wrote on last edited by
                      #10

                      I'll likely pull the trigger on this soon even though I just got my first mortgage earlier this year.

                      HoraceH 1 Reply Last reply
                      • KlausK Offline
                        KlausK Offline
                        Klaus
                        wrote on last edited by
                        #11

                        2.75% for a home mortgage?

                        I pay 1.1%. If I'd get a new mortage today, I could get 0.9%.

                        X 1 Reply Last reply
                        • JollyJ Jolly

                          As of January, I've been mortgage free for ten years.

                          Also, it doesn't hurt that I pay no property taxes on my home.

                          jon-nycJ Offline
                          jon-nycJ Offline
                          jon-nyc
                          wrote on last edited by
                          #12

                          @Jolly said in 2.75%:

                          As of January, I've been mortgage free for ten years.

                          Also, it doesn't hurt that I pay no property taxes on my home.

                          How are schools and local services funded?

                          My property tax pays town and county owned roads, cops, fire, ambulance, garbage pickup, library, and schools. I’m sure you have all those services. How are they paid for there?

                          You were warned.

                          1 Reply Last reply
                          • JollyJ Offline
                            JollyJ Offline
                            Jolly
                            wrote on last edited by
                            #13

                            I have homestead exemption on my home. I do pay property tax on the house my daughter lives in and I pay a small amount of property tax on the 23 acres next to my home (I had that assessed as timberland). We pay through the nose in sales tax, which is combined 10% (state and parish). I also pay state income tax, but very little, since LASERS pensions are exempt from state tax.

                            “Cry havoc and let slip the DOGE of war!”

                            Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                            George KG 1 Reply Last reply
                            • JollyJ Jolly

                              I have homestead exemption on my home. I do pay property tax on the house my daughter lives in and I pay a small amount of property tax on the 23 acres next to my home (I had that assessed as timberland). We pay through the nose in sales tax, which is combined 10% (state and parish). I also pay state income tax, but very little, since LASERS pensions are exempt from state tax.

                              George KG Offline
                              George KG Offline
                              George K
                              wrote on last edited by
                              #14

                              @Jolly said in 2.75%:

                              . We pay through the nose in sales tax, which is combined 10% (state and parish)

                              Same here in Crook County.

                              PLUS property taxes.

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • X xenon

                                I'll likely pull the trigger on this soon even though I just got my first mortgage earlier this year.

                                HoraceH Offline
                                HoraceH Offline
                                Horace
                                wrote on last edited by
                                #15

                                @xenon said in 2.75%:

                                I'll likely pull the trigger on this soon

                                Please don't use gun analogies, they trigger me.

                                Education is extremely important.

                                Aqua LetiferA X 2 Replies Last reply
                                • HoraceH Horace

                                  @xenon said in 2.75%:

                                  I'll likely pull the trigger on this soon

                                  Please don't use gun analogies, they trigger me.

                                  Aqua LetiferA Offline
                                  Aqua LetiferA Offline
                                  Aqua Letifer
                                  wrote on last edited by
                                  #16

                                  @Horace said in 2.75%:

                                  @xenon said in 2.75%:

                                  I'll likely pull the trigger on this soon

                                  Please don't use gun analogies, they trigger me.

                                  My boss was called out about that in a meeting. He apologized, and explained he was in the military. Which brought a bit of a sneer.

                                  Please love yourself.

                                  1 Reply Last reply
                                  • KlausK Klaus

                                    2.75% for a home mortgage?

                                    I pay 1.1%. If I'd get a new mortage today, I could get 0.9%.

                                    X Offline
                                    X Offline
                                    xenon
                                    wrote on last edited by xenon
                                    #17

                                    @Klaus said in 2.75%:

                                    2.75% for a home mortgage?

                                    I pay 1.1%. If I'd get a new mortgage today, I could get 0.9%.

                                    I haven't looked into this closely - so I may be talking about of my ass. But the mortgage industry in the U.S. has a bunch of regulation in it that likely drives up the cost for some borrowers and lowers it for others.

                                    Most mortgages are bought up and guaranteed by public entities (Freddie Mac, Fannie Mae) - and they have very stringent and blunt criteria on how you qualify for a mortgage.

                                    A lot of lenders don't run their own risk models - they just to conform to the Freddie/Fannie standards to make sure they can resell the mortgage.

                                    1 Reply Last reply
                                    • HoraceH Horace

                                      @xenon said in 2.75%:

                                      I'll likely pull the trigger on this soon

                                      Please don't use gun analogies, they trigger me.

                                      X Offline
                                      X Offline
                                      xenon
                                      wrote on last edited by
                                      #18

                                      @Horace said in 2.75%:

                                      @xenon said in 2.75%:

                                      I'll likely pull the trigger on this soon

                                      Please don't use gun analogies, they trigger me.

                                      I gotta bite the bullet and apologize. I didn't have you in my sights when I made my comment, but that's no excuse.

                                      Next time I'll think through and reload if I think the comment will hit the wrong mark.

                                      1 Reply Last reply
                                      • markM Offline
                                        markM Offline
                                        mark
                                        wrote on last edited by
                                        #19

                                        If you are thinking about a mortgage or even a re-fi, do it now. The backlog is insane. It will be two weeks minimum until an underwriter even looks at the paperwork. The loan officer told me to expect up tp 72 days or longer until we close.

                                        The rates are driving this volume of mortgages and re-fi's.

                                        1 Reply Last reply
                                        • HoraceH Offline
                                          HoraceH Offline
                                          Horace
                                          wrote on last edited by
                                          #20

                                          I remember when the value of my house was an important part of my portfolio.

                                          Education is extremely important.

                                          1 Reply Last reply
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