Recent Mortgage Rates

we just locked in at 5.25

Rates are low, im locking in the high 4's on 30yr fixed <75 ltv over 720 score

i locked in at the end of august at 5.25%

i have a closing date of nov 24, i want to lock in now but my bank is advising to wait till 30 days prior (they only do 30 lock) to avoid paying any add'l fees. its frustrating not knowing if i should just lock today and pay the fee or wait it out

I am getting 4.5% with 1 point from TDbank with 90% LTV for 30 yr fixed

who is your bank freezer, most banks offer 60 day locks at a minimum?

Has anyone tried Orange? I get e-mails with offers of 3.99% for a 5/1 ARM up to $750,000. Do these work in NYC?

orange definitely has a presence in NYC. but maly, i'd be VERY wary of a 5/1 right now unless you have very secure income and/or means to pay off early. the 5/1 under normal circumstances in my favorite product, but i wouldn't touch it now unless i didn't really need the loan and was just doing money management.

joe, i usually wouldn't be a proponent of points, but your deal seems quite decent.

guess they won't be extending the first time buyer credit...

http://www.bloomberg.com/apps/cbuilder?ticker1=NMCMFUS%3AIND

wow!!!! i cannot believe theses rates. Lucky first time buyers will enjoy this LOCKED-IN rate for 30yrs. Imagine 5 years from now and rates are 9-10%. Think of this as a future financial windfall.

steve, they're only available for limited numbers of properties. you may find yourself stuck for 30 years.

I think if you are locking in less than 12 days for those that lock last minute the rate should always be less then the quoted regular rates is my understanding. Timing/taking the risk is another story.

Rates have been around high 4s to low 5s the last couple of weeks. Rates of course vary with down payment, credit score, and property type. 60 days are the standard but you can sometime lock in at a slightly lower rate with a shorter term lock. Timing and luck is the key to locking in at the best rate. sunny.hong@bankofamerica.com