Home : Blogs : Valerie Springer Mortgage Loan Officer Expert in Financing Purchase & Refin : DEAR VAL: Mortgage Loan Officer Concentrating on Shelby County & Birmingham, AL

4.5% ??? Not Yet, still good news on the horizon!

My phone lines were all red today with repeat clients wanting to refinance to 4.5%. It was all over the news, at least that is what they heard. The word even got a couple of fence sitters moving on purchases.

We are not at 4.5% yet, but we are only 20 basis points away from being at the best levels of pricing since 2003. I did lock one client in today at 4.875% with a discount point. There are many options available.

If you have any idea that you will be moving any time soon, get out NOW and find your home for much lower prices that we have seen in years. If you are going to be in your home long term, refinance now and save tens of thousands on interest.

Do you or anyone you know need to purchase or refinance? Do you have clients waiting for 4.5%?

Posted by Valerie Springer Mortgage Loan Officer Expert in Financing Purchase & Refin on 12/04/2008 09:28 PM

Comments (11)

4.5% in the ActiveRain Channel

interest rates

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11 Comments on 4.5% ??? Not Yet, still good news on the horizon!

DEC

2008

It is apparent that this information is getting the attention of the media and the public......

I thought the 4.5% was just for buyers and not for refinancing. Was this changed?

Colleen: No it has not changed but people on hear the 4.5% and think it is immediately and for everyone. Thanks for commenting!

I jokingly said to a loan officer today something about people hearing Paulson's comment about 4.5% interest rates and deciding to (a) wait for it or (b) thinking it was a done deal...I laughed until she said, "oh, our phones are already ringing." LOL Amazing what gets lost in the translation!

I've heard a few people that are really excited about it... but they are all looking for refis. From what I've heard, refis aren't on the table at the moment.

Good post! You learn so much from reading posts here! Thank you!

Let us run to 3.75% PLEASE!

Valerie, these are just lovely numbers! I'm waiting for 4.5% jumbos.

DEC

2008

There seems to be a lot of buzz in the air down this way, too.

I talked with Brian Brady last night on facebook chat... he is not sure what is going to happen...or IF they are going to let people re-finance at 4.5%.....

We will see what happens!!!

=-)

Valerie, let's hope that this is the beginning of lots of good things!

This is great news! Now is a Great time to buy a new home! With rates and home prices as low as they are right now the ones that buy right now can have such low house payments! And in many cases they will have a quick equity when the market turns back around and prices go back up to where they should be based on the cost of New Home Construction.

Thanks for as ever cheerful good news!

Debbie

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