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horncyclist

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Everything posted by horncyclist

  1. These numbers are all very different and indeed bathshit crazy. The lender who quoted me 3.875 also said we could "float down" if rates dropped after I'm approved. That's a bit reassuring because I could see rates settling back down once the dust settles. I could also see everything collapse.
  2. I guess my dilemma is trying to find that broker when I want to get the refi done pretty fast. There are a couple local ones that come up on Google, good reviews and local offices. Guess I'll try one of those to get a non-institutional quote.
  3. Yes, 30-year fixed. So 3.875 is not too bad then? This is a little embarassing but I just realized the difference between a mortgage lender and a broker. I've been talking to 3 lenders--one from the institution who owns my current mortgage, one who did the mortgage when we bought the house 3 years ago, and a third who does deal for a family member who does a lot of residential real estate. Should I talk to a broker?
  4. Does cashing out if the LTV is still 75% or less matter? I got quoted 3.875 today, which still seems high with the rates your throwing around. My wife's middle score is 725. Conforming loan. 3.5 would be great. I'm close to just doing the 3.875...saves a half a percentage point and I can get the cash out I need before the whole economy goes in the shitter.
  5. If every act of incompetence and failure of leadership were not killing people, this would be funny. Can we somehow just hurry up and make Biden President?
  6. Just checking in to the CR thread to say Trump is a horrible fucking leader. Like all time worst.
  7. As far as I can tell there's zero guidance about public interaction for a non-high risk person who has not know to have been exposed. People going out are dumb but it's not like anyone with authority is telling them not too. The incompetency is going to likely kill 100s of thousands more.
  8. We're 1-2 weeks behind on every decision. There will be quarantines ordered in a week, weeks later than we should have. It's this constant delayed reaction that will make it as bad or worse than Italy and Wuhan.
  9. Feeling sick I failed to lock the 3.625 30-year fixed when it was offered but it seems like the rates have to come back down. This article says that basically banks were overwhelmed by demand, having trouble processing loans and funding them when rates dropped to the historic lows, so they raised rates to meter demand. That makes sense. But if accurate, they should come down gradually again once things settle down. It's reasonable to expect similarly low rates in a month or two, no? https://www.marketwatch.com/story/mortgage-rates-increased-this-week-despite-the-coronavirus-turmoil-heres-why-you-havent-missed-the-chance-to-refinance-2020-03-12
  10. It still seems like we're several steps behind what we need to be doing. We need to be building temporary hospitals and figuring out how to rapidly increase production and availability of ventilators. Like a war-time effort. I'm not sure we're doing either.
  11. With the limited testing, you have to think actual numbers are many times this. Hospital bed crisis will be here in a week.
  12. We need to be building hospitals and coordinating the medical response. The incompetency at a national level on this is insane.
  13. There was some hope with seemingly limted spread in the southern hemisphere. Probably just that there's a much greater exchange of people in the north and delayed testing. We're fucked for at least a year. This is going to have the impact of a world war.
  14. I feel like shit just got turned up to 11 today. It was inevitable but wild to be here. Next week is going to be rough...we're still reacting way to slow. We're going to be Italy in a week.
  15. My federal agency employer went to full time telework today...billed under a "liberal telework policy" but we were encouraged to telework unless coming into the office is absolutely necessary. Im guessing mandatory is coming soon. What's scary is where does this end. This isn't going away anytime soon. Even shutting everything down.
  16. So I just had a lender go from quoting me 3.625 on a 30 year conforming cashing out $100k on 2/28 to quoting me 4.875 today. Is that the kind of jump you're seeing? Our current rate is 4.375 so we'll just hold off on the plans for the cash if rates have skyrocketed. It seems like they'll have to settle down some and with the prime rate and 10-year low, you'd think that would be near the lows. Also, can you do a loan in Virginia?
  17. Fuck. Is the refinance window closed? At banks basically tightening becuase of economic uncertainty?
  18. I have a trip to Mexico City booked next week for work plus two days personal. Am I crazy to want to go still? Figure its safer there than in DC, so it's just flying on the plane.
  19. It spread so damn fast in Italy. Pretty sure that will be many US regions within a week or two.
  20. This thing seems really fucking contagious: Most cases linked to the meeting, which was attended by about 175 people, are in Massachusetts. State health officials said Monday that 32 of the 41 infected patients in the state were either Biogen employees or close contacts of employees. Two people in Indiana, five people in North Carolina and one person in New Jersey tested positive with coronavirus after attending the meeting. Biogen has since informed all attendees to quarantine themselves and symptomatic employees to alert public health officials, the company said in a statement emailed to The Washington Post. “We recognize that this is a difficult situation for our colleagues and their loved ones,” the drugmaker wrote. “We are actively working with all relevant departments of public health and hospitals to prioritize the well-being of the people who may have been exposed to COVID-19.” https://www.washingtonpost.com/world/2020/03/09/coronavirus-live-updates/#link-J6OHSEP2AJELJMSDXTI4RMEY3E Unclear how many of the 32 in Massachussets were there, but it seems like a quarter of the people catching something from one conference is bad. It's supposed to be less contagious than the flu. Does the flu transmit like that?
  21. Is that because the news about the rates is causing people with worse credit to apply so the average rates go up? They have to come down some more, right? Catching up with the 10-year?
  22. Health care being such a mess, you're going to have a lot of people toughing it out, going to work and crowded events. We may be one of the least equipped countries to deal with this. Just look at the testing failures.
  23. 10 year yield at .75. Maybe bank pays me for mortgage? Planning to wait at least until early next week lock on the refi.
  24. Embarassing but not at all surprising. We seem to be handling this as poorly as possible--late with travel restrictions, botched quarantines, no testing, mixed communication on seriousness. We're going to get hit harder and more quickly because of it.
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