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help: best mortgage rate??

Started by LENOXav
over 12 years ago
Posts: 150
Member since: May 2010
Discussion about
Have checked with BofA, Citi, Chase, Wells, and a couple Mortgage Lenders and Brokers . . . but cant seem to get a better rate than 4.5% . . . No Lender budging. No Closing Assistance. First Time Homebuyer with Excellent Credit History [790-810 Credit Score] NYC Civil Service 15 year veteran, putting down 35% on an Upper Manhattan Cooperative unit . . . Any Suggestions??
Response by scarednycgal
over 12 years ago
Posts: 170
Member since: Mar 2013

Try to do all cash if you can....screw the banks!

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Response by aalsberg
over 12 years ago
Posts: 99
Member since: Mar 2011

Although its high by last years standards by the end of the year you will call this cheap money as interest rates will probably go up another 1/2 percent

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Response by TheTourist
over 12 years ago
Posts: 134
Member since: Apr 2012

It makes sense. Banks look mostly at the 10 year treasury to price a 30 year FRM, taking 1.5 to 1.75% of margin above that. Friday it closed around 2.85%. It is a bit too late to make a very good financing trade, taper is priced in, but it is still decent. Keep in mind the interests are pre-tax dollars.

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Response by NYCMatt
over 12 years ago
Posts: 7523
Member since: May 2009

Just refi'd with Mellon at 2.00%.

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