Posted on 04/18/2022 7:56:12 AM PDT by fireman15
it’s still a relatively low amount, but the share of all mortgages issued this January that were ARMs increased to about 10%.
I have used the lenders from both of those sites many times and always received the exact quote I got from Zillow or bank rate, or even better. The lenders update their numbers every day around 9am.
You are in the wrong spot if you need to enter any personal information whatsoever. You just need zip, credit score range, purchase price, downpayment, type of mortgage and primary/secondary or investment
No they don’t actually
The federal reserve reports the median credit score of new mortgages every quarter - it was nearly 790 last year and has just barely dipped this year. I have done over 30 mortgages in the last 12 years, including 7 in the last 14 months, just closed on another property 10 days ago.
Congratulations, you have been a busy guy. Apparently, you are not aware that you are not the typical person hoping to purchase a home. And whatever the Fed claims the median credit score of someone who successfully gets a mortgage is not necessarily relevant to the average person hoping to buy or refinance a home. The Fed is apparently reporting a number that is higher than that average of the wealthiest Americans. Which makes sense because the Fed is an organization made up for the rich, and providing for the rich. Please provide a link. It feels like you are blowing smoke up all of our butts.
The average FICO score in the U.S. is 716.
The average score for the lowest-earning Americans is 658.
The highest-earning Americans have an average credit score of 774.
The average credit score of homebuyers across the 50 states and the District of Columbia is 731.
Yes, but the average person BUYING a home is a significantly higher credit borrower than the average PERSON in the US for two reasons 1) The low credit score folks tend to be renters 2) in this crazy market for buying, the home sellers are picking the strongest buyers, which have better credit scores.
I do not disagree with what you have said, but we are arguing apples vs oranges. Except for one thing... the report that I started the thread with is noting a large overnight increase, and it is a measure that gives more immediate results that quarterly reports from the Fed, etc... You can disregard it if you like.
No other site on the planet is showing any mortgages even close to the article from MSN. Honestly, I think they got a bad feed.
My daughter got into her house last summer. Their rate is under 3%. I told them them will be paying off a loan that cheap with very inflated money—in 10 years they could handle it with a part time job. LOL.
Let’s hope so!
I got 2.75% fixed on a 20-year a little over a year ago. I won’t mess with that ever. My tax accountant freaked out because there was barely any interest to deduct.
“barely any interest to deduct.”
LOL. Caught between a rock and a hard place, aren’t we? Low payments (nice) but no interest deduction (not nice).
Third Federal
3.19% 5 year smart ARM (you can pay $299 to relock at current rates for another 5 years at any time with one sheet of paper and a 3 min phone call) and 4.89% 30 yr/fixed. You can just pick your county and state to see your rates. They aren't everywhere, unfortunately, and they won't do rentals unfortunately for me, but for primary home they are great.
“You are in the wrong spot if you need to enter any personal information whatsoever. “
First page requires personal information.
I have repeatedly asked for your link ...
https://www.zillow.com/mortgage-rates/
bankrate .
seriously this takes like two seconds or clicking
I found our refi lender 15 months ago on bankrate.com.
Right now they are showing 4-3/8 for new 30 year fixed loans
Or from bankrate
bankrate .
seriously this takes like two seconds or clicking
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