Mortgage rates at historic lows

[pscot]

http://www.freddiemac.com/pmms/release.html?week=28&year=2010

30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 15, 2010, unchanged from last week when it averaged 4.57 percent. Last year at this time, the 30-year FRM averaged 5.14 percent. This rate ties the all-time low reached last week in Freddie Mac's 39-year survey.

15-year FRM this week averaged 4.06 percent with an average 0.7 point, down from last week when it averaged 4.07 percent. A year ago at this time, the 15-year FRM averaged 4.63 percent.

[mkultra]

1. im refinancing right now.

[edhopper]

8. But houses here in New York

I'm talking Queens, not Manhattan, are still $250 to $300 a sq ft. As compared to $60-$70 sq ft in 2000.
So mortgage rates don't mean much to me.

[dmallind]

2. So much for my market timing. I locked in 3 mos ago at 4.75

That's going to cost me DOZENS of dollars! However I confess I really did say "No way they can go lower than this...." No points though so not as bad as all that. But hey wrong is wrong!

[pscot]

3. I spoke to a few mortgage brokers recently

and the best quote I got was 4.71, so don't feel bad. They aren't passing the low rates along.

[benld74]

4. You cant get one if youre underwater and dont get help from HAMP,

[madrchsod]

5. my adjustable went down to 2.something %

my payment is around 350 a month.

[ILFightinDem]

6. Just finished closing my refi at 4.50% 30 fixed

Took awhile, and at one point I had to switch lenders & start over - but I got down to 4.50% fixed (was at 5.50%, so not that bad, but I wanted to get the lower rate if I could). Got away from BoA with it, too (they've lost my banking & mortgage in the last six months).

[upi402]

7. I was in process, near closing

then I lost my job.

[pscot]

9. That sucks

I feel for you. I hope things work out. Good luck.