Locked in today...

[kenny c]

the mortgage rate that is... 4.75% with 1/2 a point off cash to close. Not closing until ~May 6th, but I felt it was a good deal. It will be our first brand new house, so we are excited.

Our previous house we were at 7.25%, so our payments will be about the same but our will be much nicer and almost twice the size.

[Tx Redneck]

Solid barg.

[347Mike]

Congrats! Hopefully in two more years I can afford a house double my size.

[Lone Sailor]

Congrats!

[propellerhead]

Congrats!

I was sorting through old paperwork last week. I found the loan papers for my first house. The rate was 8.25. I remember a co-worker who refinanced to 8.5 from 12%. This was back in the late 80s.

[slow99]

Congrats, nicely done. Long-term fixed rates aren't even close to being correctly priced right now, imo.

[SVT Lurch]

Congrats, nicely done. Long-term fixed rates aren't even close to being correctly priced right now, imo.

Agreed, the gap between rates is all sorts of messed up. One day it's half a point for 0.125% in rate (the correct amount), then it's 1.5 points, then drops to 1, then for a brief second it's 0.25 points, then they catch their mistake and put it back to 1.5.

[mikeb]

Congrats!

I was sorting through old paperwork last week. I found the loan papers for my first house. The rate was 8.25. I remember a co-worker who refinanced to 8.5 from 12%. This was back in the late 80s.

yep, when i closed on my house in 1989 i was paying 11.25% on a 30 year note.

[lonestar]

Congrats!

[kenny c]

Thanks everyone!

It just feels really good to be settling in... In the past 5 years, I've lived in Tampa, Lithia (just outside Tampa), Phoenix, back to Lithia, Cedar Park (N Austin), and now we are finally buying a house in Texas again.

[0 GT 2]

Congrats! Hopefully in two more years I can afford a house double my size.

Which is why the real estate market is so cyclical.