General Discussion

Bmoboy

(414 posts) Fri Oct 4, 2024, 01:53 PM Oct 4

Mortgage rate drop

I am buying a condo and have been offered a 15 year mortgage at 4.99%.

A sign of things to come?

Nice timing for the election.

It's the economy, stupid.

7 replies

= new reply since forum marked as read

Highlight:

Mortgage rate drop (Original Post) Bmoboy Oct 4 OP

Not bad. I've been looking at condos recently as well. nt Shermann Oct 4 #1

Excellent. Pinback Oct 4 #2

Worst case? Rates go up and you are locked into decent rate? MaryMagdaline Oct 4 #3

My insurance (escrow) keeps going up though FakeNoose Oct 4 #4

I've paid off my mortgage but homeowners insurance central scrutinizer Oct 4 #5

And Florida may be worse Bmoboy Oct 4 #6

That's great. It's usually about the economy, but . . . hawkeye21 Oct 4 #7

Shermann

(8,726 posts)

1. Not bad. I've been looking at condos recently as well. nt

Reply to Bmoboy (Original post)

Fri Oct 4, 2024, 01:54 PM

Oct 4

Pinback

(12,911 posts)

2. Excellent.

Reply to Bmoboy (Original post)

Fri Oct 4, 2024, 02:08 PM

Oct 4

Congrats. You may be able to refi to an even lower number in a couple of years, but compared to where things have been, that’s a sweet rate.

MaryMagdaline

(7,923 posts)

3. Worst case? Rates go up and you are locked into decent rate?

Reply to Bmoboy (Original post)

Fri Oct 4, 2024, 02:09 PM

Oct 4

Best case? Rates go down and you can refinance. Congrats!

FakeNoose

(36,034 posts)

4. My insurance (escrow) keeps going up though

Reply to Bmoboy (Original post)

Fri Oct 4, 2024, 02:12 PM

Oct 4

I'll have my 30-year mortgage paid off soon but the homeowner's insurance has never stayed level.
It has gone up almost every year.

central scrutinizer

(12,441 posts)

5. I've paid off my mortgage but homeowners insurance

Reply to FakeNoose (Reply #4)

Fri Oct 4, 2024, 02:47 PM

Oct 4

Has risen steeply. Up 30% from last year to this year and another 50% from this year to next year. Probably due to destruction from wildfires here in Oregon.

Bmoboy

(414 posts)

6. And Florida may be worse

Reply to central scrutinizer (Reply #5)

Fri Oct 4, 2024, 04:06 PM

Oct 4

hawkeye21

(284 posts)

7. That's great. It's usually about the economy, but . . .

Reply to Bmoboy (Original post)

Fri Oct 4, 2024, 04:27 PM

Oct 4

This is clearly Depravity vs. Decency. Simple and plain as that.

But lower interest rates and lower unemployment (4.1%) and adding more jobs can't hurt.

Still, this is the damndest, craziest, most ludicrous collection of MAGA characters possible, with Trump leading the way as the emobodiment of every negative human trait there is.

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