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Tracking Mortgage Rate Movements?

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Legend
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Joined: Feb, 2002
Posts: 67006
Posted: #1
Anyone have a good website where I can track the daily movements of mortgage rates?  I know I can watch the 10-year note, but somehow that doesn't even seem to effecting the rate market that much.

Looking to refi and lock in the best rate at the right time.  As of yesterday was quoted 4.75% with around $2,100 total cost on a $202,000 mortgage.


 
Rookie
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Joined: Jan, 2007
Posts: 689
Posted: #2
where is that at?
 
 
Prospect
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Joined: Aug, 2002
Posts: 352
Posted: #3
bankrate.com
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #4
I dont know if you can find REAL rates from enough sources to draw a good conclusion.

Sure you can get generic national rates, but if that includes what you could get for your property and including points I am not so sure.
 
Legend
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Joined: Feb, 2002
Posts: 67006
Posted: #5
I'm not so interested in the rates per se, but rather the day-to-day movements up and down.  I know it may be impossible.
 
Legend
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Joined: Feb, 2002
Posts: 67006
Posted: #6
FWIW I decided to lock in today.  We're going to be here awhile so I paid a little extra (just over 1 point total fees and costs) for a lower rate, 4.625% for 30 year fixed.  Planning to prepay monthly to pay off in 20 yrs, unless things change in the future, like runaway inflation.
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #7
Depeche,

Any reason not to go with a 15 yr loan and suck it up a little payment wise?

Check the difference in interest costs, it is amazing. Next loan will be a 15 for me and maybe a little less gambling etc.
 
Legend
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Joined: Feb, 2002
Posts: 67006
Posted: #8
wall, pretty simple really.  The rate/cost was identical for 15 and 30 year.  Makes no sense to take a 15 year at the same rate/cost.  I could still pay it off in 15 if I want by just paying extra per month, but I retain the flexibility not to.  I had 24 years left and I plan to pay it off in 20 with similar payments as before.  I can and will be able to afford to pay faster than 30 yrs, only reason I wouldn't is if we go into hyperinflation and I can get a 10% CD or something.  In that case obviously I'd rather put the extra cash in something earning more than the int rate I'm paying.  Ya never know what's going to happen.  Only reason to take the shorter term would be to get a lower rate, but for whatever reason that just isn't the case right now as far as I can tell.
 
Captain
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Joined: Sep, 2008
Posts: 9136
Posted: #9
where did you get this rate? 4.625 for a 30yr is crazy. i got 16 years left on a 20 but would love to have the flexibility that you talk of myself. my current rate is 5.5
 
Covers Linesmen
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Joined: Feb, 2003
Posts: 56849
Posted: #10
Nice job on the rate Depeche.

I was looking at a rate drop for some relatives and last week he was locking 30 yr at 4.625 with no points, this week rates are 5.625, just amazing how illiquid the mortgage market is and how fast rates move.
 
Legend
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Joined: Feb, 2002
Posts: 67006
Posted: #11
Yeah, it looks like I may have caught one of the last trains leaving the station.  Of course I still need to get the final word and paperwork back from the mortgage guy...and my closing supposed to be in 5 days.  There should be nothing that can derail this.  I'll be pretty darned pissed if they screw me over somehow.
 
Prospect
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Joined: Apr, 2009
Posts: 2
Posted: #12

The initiative taken for the concern is very serious and need an attention of every one. This is the concern which exists in the society and needs to be eliminated from the society as soon as possible.

Suzzane Waltz

[url=https://www.interestrates.tv]Interest Rates for Mortgages[/url]

 
 
Prospect
Participation Meter
Joined: Apr, 2009
Posts: 2
Posted: #13

The initiative taken for the concern is very serious and need an attention of every one. This is the concern which exists in the society and needs to be eliminated from the society as soon as possible.

Suzzane Waltz

https://www.interestrates.tv--Interest Rates for Mortgages

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