I want that, but there are so many people refi'ing right now they don't have to

Sign up, and CougarBoard will remember which categories you want to view. Sign up

Report problem with this ad

Jan 22, 2021
12:41:22pm

Genghis Spreads All-American

I want that, but there are so many people refi'ing right now they don't have to

be responsive to any of your questions.

Report problem with this ad

Genghis Spreads

Previous username: BeefNoodleSoup
Bio page: Genghis Spreads
Joined: Feb 23, 2004
Last login: Apr 25, 2024
Total posts: 33,859 (299 FO)

Report problem with this ad

Messages

Author

Time

If you lock in a rate for refi and the rate sinks further, can't you just let

Genghis Spreads

1/22/21 12:24pm

Which is why most banks just give you the lower rate

Kajdin

1/22/21 12:39pm

I want that, but there are so many people refi'ing right now they don't have to

Genghis Spreads

1/22/21 12:41pm

Depends. Some require that 120 days have passed before they'll allow you to float down and re-lock.

mulletino

1/22/21 12:46pm

Seems like they'd have to be pretty confident in their customer loyalty.

SweetBabyG

1/22/21 1:31pm

They literally lose money whenever a loan is locked and not closed (futures contracts). So you can't just be willy-nilly

mulletino

1/22/21 1:38pm

Are you thinks rates have much left to drop?

germ1

1/22/21 1:12pm

they already have since I locked.

Genghis Spreads

1/22/21 1:16pm

Enough to make a difference?

germ1

1/22/21 1:27pm

Yes, by about $20 a month.

Genghis Spreads

1/22/21 1:35pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad