by *Carol ~Bronx Southern Belle Y.
Member since:
January 16, 2007

30-year mortgage rates are what?

July 22, 2012 01:47 PM UTC (Updated: July 22, 2012 04:27 PM UTC)
views: 0 | 7 people recommend this | comments: 17

30-year mortgage rates are at an incedible rate. I am closing on Wednesday on a 15 year fixed at 3.25%. My first payment is due September 1, and I will pay more in principle than in interest on my first payment.

A 30-year fixed rate is at 3.75%. If there is any chance of you refinancing or buying a home, now is the time.

Back in the 60's my father had a mortgage at 5.5% which is what my mortgage was, but when it dropped to 3.25%, I had to do it!

Comments: 17

William M. Jul 22, 2012, 1:51pm UTC
Now is the time to buy a home or get a new mortgage. You got a good deal.
*Carol ~Bronx Southern Belle Y. Jul 22, 2012, 2:00pm UTC
I am seriously thrilled.
May Xue Jul 22, 2012, 2:14pm UTC
Glad you got a great deal!
Rachel D. Jul 22, 2012, 2:18pm UTC
That's a terrific deal! I hope you're paying more in income taxes now that your mortgage deduction is going to take a hit on your tax return!
*Carol ~Bronx Southern Belle Y. Jul 22, 2012, 4:29pm UTC
I had forgotten that part. : {
Steph-in-NE ..... Jul 22, 2012, 2:23pm UTC
we did this about a yr abo when at 30 we got our for 3.25%. we lowered our house payment $250 from what it would be.. I also got a deal if anything happen to hubby, house is paid in full. Because you can never be carefull and more secure at the golden yrs
*Carol ~Bronx Southern Belle Y. Jul 22, 2012, 9:17pm UTC
Great deal.
Jennifer Neff Jul 22, 2012, 3:18pm UTC
That's a great deal! When we bought this house a year and a half ago our rates were locked in at 4.75%. Not bad for buying. Not worth the legal fees to try to refinance and lower more, though.
*Carol ~Bronx Southern Belle Y. Jul 22, 2012, 9:17pm UTC
You might think that. It cost a lot but at 3.25 I will make it up in a year.
Larry M. Jul 22, 2012, 3:53pm UTC
I guess the lenders are not afraid of inflation over the next 15 years or so. Why is that do you think?
Nancy S. Jul 22, 2012, 3:57pm UTC
That's a great deal alright. I like mine better because 2 more payments and my mortgage is paid off. Whooppee!
Mylinda Elliott Jul 22, 2012, 5:00pm UTC
Good job, I'm happy for you.
Nora D. Jul 22, 2012, 5:48pm UTC
We have been ever so blessed.....when my dear mom died, she left me, and our son, considerable sums of money.....I took my inheritance, wrote a check, and paid our house completely off.......yayyyyy! What a wonderful feeling, to be able to pay our house off 15 years early!!!!!! Our son inherited almost enough to pay for most of his college education, so he has been very thankful also. Soooooo, I have no idea whatsoever what the mortgage rates are these days.......we're completely remodeling our house, one room at a time, so I will have my "new house" after all........and paying for all the remodeling in cash........I would never go in debt again for a house.....much better to work with what we've got.
Marsha C. Jul 22, 2012, 8:20pm UTC
we need to check in to this. We were supposed to be a fixed 5.25% which seems low enough.
But....mortgage started at $299 a month when we closed in March 2011. It keeps raising and is now at $374 a month. I'm not happy about that.
Marsha C. Jul 22, 2012, 8:21pm UTC
sorry...started at $599 a month and now is up to $674 a month....I wish it was the lower!
Cynthia C. Jul 22, 2012, 8:21pm UTC
Thank you for sharing and posting to Sadies Points .
Rayda Renshaw Jul 22, 2012, 9:16pm UTC
Bully for you! So glad you were able to lock in a lower rate! Me? I just buy them outright and skip the mortgage. But then, I'm in a mobile home in a trailer park, not a nice house. lol

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