Mythical sub-4 jumbo 30-fixed?

It's possible, with a ton of points.

if it wasn't mythical yesterday, it certainly is today. i would like a 4 re-fi myself, and i'm conforming and i haven't been able to find it.

ask shong. I think he's at countrywide.

I should rephrase - what is the lowest rate one can get? Assume excellent credit scores, a private bank relationship, 30-fixed/15-year fixed, no points, Manhattan, jumbo?

sunny_hong@countrywide.com

http://www.brownstoner.com/profile/shong1

Online, BOA/Countrywide gives me 6.6% in my zip.

jumbo just shot up yesterday. i don't know if the dust has settled yet.

Maybe if you ask Sunny directly, she(?) could do better for you.

Kinda leery of sending personal fin. details to a stranger. My p-banker is keeping an eye on rates. Nothing exciting yet. AR: how low was the lowest jumbo 30-yr you've seen?

i'm not in the market for jumbos, but i think i just saw bottom of jumbo market is around 6.38%, without private banking discount, but wouldn't apply to manhattan, i don't think.

we are purchasing and not yet locked and we saw 5 1/8ths yesterday, 5 1/2 today.

Conforming loan, paying a point.

Refis in the 4s aren't happening right now.

ali r.
{downtown broker}

ali's numbers would mean that 6.6% for a jumbo with no points would seem very low.

6.6% was what I got when I plugged in various jumbo #s in the bankrate.com's calculator with my zipcode. I got 5.00% on 15-year which seems very good to me. Maybe that's the way to go. BTW, 6.6% was Countrywide's rate.

if and when we buy i'll be doing my best to get a 15-year. getting a bit long in the tooth. 5% doesn't sound bad at all.

not saying the 6.6% isn't there, just that for today it sounds like a decent deal.

Maybe I should jump on the 6.6% bandwagon. Or at least use it to negotiate with my current lender.

10023, it's hard to say. things went crazy the last couple of days, but one of the primary goals right now of the Fed is to keep mortgage rates low. i'd think they'd have another go at it, before conceding defeat later. maybe UD or someone else could give you better advice, but i don't think the powers that be are ready to let go of low mortgage interest rates just yet, which would lead to lower ones shortly. tough call if you really want to refi and you think rates may head up shortly.

I locked in last week at 4.875, no points, 30yr conforming (at the new 729,725 level). That was the lowest I saw rates go, and the bank providing my loan said that the lowest they had done was just under that (they didn't say exactly what the number was).

nice timing stlblufan!

Thanks....pure dumb luck :)

aboutready, I have a lock at 4 with 1 pt at BoA for a 5/1 ARM. I got quotes of 4.5 for a 5/1 ARM at ING with no pts and a 30-yr at 4.5 with 1 pt at Citi.

stlblufan, good job!

All, this industry site provides interesting info, as well as the (sometimes cloddish) comments of loan officers: http://www.mortgagenewsdaily.com/mortgage_rates/

conforming? when did you lock? i almost always do the 5/1 but i'm not sure whether i would today. would have to think on that.

i locked in last week at 4.75$ conforming with 2.5 points with Chase. Not as good as stlblufan but my credit isn't perfect. from what i can tell rates went up this week, so i'd thing a 4 jumbo would indeed be mythical right now.

thanks dwell. Actually Im now at sunny.hong@bankofamerica.com. Oh by the way, He. No worries I get that all the time. As you may all know rates spiked yesterday. We actually had like 7 rate increases over the last couple of days. I have a feeling we wont be seeing rates in the 4% range anymore unless you pay points.
Jumbo 30 years fixed at sub-4 dont exist (maybe with a ton of points like ericho said). There are temporary buydown programs that may allow you to get sub-4 but all youll really be doing is prepaying the interest and that rate wont be fixed for 30 years. The lowest Ive seen jumbo (above 729,750) 30s was 5.625% with 0 points but its been a while since.

you're talking about rates, but ltv is important also. While some banks have very low rates, they will only finance 50% of a new purchase or 50% on a refi (that's ING) So if one needs higher loan to value, then one must do their due deligence.

www.esfunding.instantlender.com

shong, as of today BNY/Mellon is offering 4.00 jumbo mortgages with no points to "qualified" clients.

what is their ltv NYCMatt?

Whose LTV are we talking about?

BNY/Mellon

streetsmart is ask what down payment BNY/Mellon require. And theyre offering that on jumbo 30 year fixed? I have to assume it isnt easy to become a "qualified" client.

Yes. Jumbo 30-year fixed. NO down payment required.

Of course that's only for "qualified" clients.

And BNY/Mellon is a private bank to begin with.

Do you have a contact at BNY/Mellon, NYCMatt? Thanks.

I do, but I'm afraid I can't publicize it on a message board.

You can contact their general numbers at (212) 495-1784 or (412) 234-5000, and tell them you're interested in becoming a depositor.

I can give you an email address. Try myopic 2003 AT yhoo

Hey, Sunny, good to see you. I always enjoy your updates.