quote:

Originally posted by CURTIS REED:
We have been at 3.25% 30 year fixed since April 2013 so we got in at the right time. Also bought our place from a local bank that had it from a foreclosure. Got it at the time for $40,000 under appraised price because we were able to jump on it and put $50,000 down. Seems good to me where I'm at so I'll probably just stand pat.

Curtis

I have a 30 year deal too starting in 2004 with 3.35 % and have been paying extra $200 a month for the last 3 years towards principle. It will be paid off 10 years early saving over $17,000 in interest....

^^^^^^^^^ smart move on the extra cash. Easy to do and no refi cost involved.

It appears that mortgage rates have decoupled from the usual indicators as lenders are having difficulty keeping up with the demand. Oddly enough, the rates skyrocketed nearly a full percent this week. For those of you that got locked in last week or even Monday morning of this week, that’s good news. The rest are likely going to have to wait and hope rates go back down.

I guess it depends on where you are buying a home.I live in Illinois and if you put it on a chart,at some point in the future,my property taxes will exceed the value of my home.
Now maybe that sounds like an exaggeration,but I simply can't get excited about real estate,at least in the Crook County,Illinois area.
My house is still worth substantially less than it was in 2004 and it is now going to get FAR worse.

^^^^ AND It's bad enough "PORK CHOP" in Springfield. Just added more fuel to the fire with his. BS. "RIP THE TAX PAYERS OFF". He makes me sick. Double the fuel tax, double tax on new/used cars deals. and now you are taxed @9% for your trailer rental spot that you rent.. Let the POT sales pay for all that BS.

^^^^^ You folks in Illinois have some soul searching to do. Illinois is the new Detroit. Your state is in an inevitable position to fail financially. Can't be corrected, can't be avoided. The last resort of burden will lie on the backs of productive taxpayers.

It truly is the point of no return. Ever..
Pet projects for example.. 25K a year to study butterfly's? For real....

Life outside chitcago and the burbs is good in Illinois. Schools aren’t bad. I live on 24 acres in a 4500 plus sqft house and I work in maintenance. But we live in the sticks. The governor and Chicago in general have worked hard to ruin this state. They will do it eventually. By then I will be long gone

Why the hell anyone would stay in Ill is amazing.

quote:

Originally posted by maliciousintent:
Why the hell anyone would stay in Ill is amazing.

Why? Yes I disagree with most of our Illinois government. We are number 9 for states on the total tax burden list. Not good, but at least 8 worse states to mention before Illinois in that aspect. Chicago including all the burbs is less than 4% of our total land area. Yes that city is corrupt. I avoid it. Long term I plan on leaving. But leave a great career because I don't like our governor? I'm not in a big hurry. It's wide open spaces where I live. I'm certainly not a walking advertisement for the State. But in general it's not a bad place to live.

At some point you have to say 'enough is enough".

quote:

Originally posted by Bucky:
Locked 2.375 this morning. 15 year. $2k refi charge. No brainer. Thought it might drop again, but chickened out.

401k was ugly this morning. Good thing I don't need it for a long time.

Who did you use? They "RoundPoint" quoted me 4% yesterday and said to wait because they going up. I may have waited a week too long.

It is a local Bank. Community State Bank of Rock Falls.

We moved out of the hell hole in 93. 40 miles south. Nice and peaceful. Got 3 times the home with 3 times less taxes. Could not take the traffic any more. I cringe when i have to go north even into Will County on calls. When i had the shop in Chicago Ridge, It was like a nightmare on Elm Street. Even the kids hate going north. All grown also.

quote:

Originally posted by JPosey:

quote:

Originally posted by Bucky:
Locked 2.375 this morning. 15 year. $2k refi charge. No brainer. Thought it might drop again, but chickened out.

401k was ugly this morning. Good thing I don't need it for a long time.

Who did you use? They "RoundPoint" quoted me 4% yesterday and said to wait because they going up. I may have waited a week too long.

Maybe. But it may dip again. There were even talks of pushing the federal supply into negative interest rates, which would push down the consumer part. I think I hit the sweet spot for the time being. Plus, my equity is very high, my ratio is very reasonable, my credit score is high, and I was going to 15 years. I am surprised they told you 4%. That seems like a big swing the other direction.