Question

With the rate cut today, what is a good mortgage rate? Looking to refinance with my friend who’s a broker but want to make sure rate is the right one.  

Answer 1

We did a no fee refinance in December to a 15 year at 3%. I just checked, my CU is now offering 10 and 15 year at 2. 5%, 20 and 30 year at 3. 0%. I assume the no fee program is over, but those are some low rates. I honestly thought 3% would be a low as they go, but seeing 2. 5 is just crazy. I would think you should be able to find 3% somewhere.  

Comments

@manamanacle441 what credit union are you a member of

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@quaternary eriefcu. org

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@manamanacle441 thanks!  

Answer 2

Just locked at 2. 875. USAA. VA IRRL.  

Answer 3

Yes around 2. 8 is def good.  

Answer 4

I just closed January 27th at 3. 75% in Las Vegas NV

Answer 5

With the recent rate drop, credit unions will probably be lending to 800+ credit scores at around 2. 5-2. 75%. Currently, I’d say average is around 3-3. 25%

Answer 6

I am about to close on a 30yr jumbo cash out 2. 875 paying one point with 1point credit so essentially no cost.  

Answer 7

Thank you all. I was able to refinance today. Called 3 mortgage companies and got 2. 625% on 15 year fixed in NJ, no points.  

Comments

@flinn good work!