What are y'all seeing quoted right now out there? We just got a house under contract and are getting a few quotes but want to make sure they are in the ballpark.

Also, going into what seems to be a period of rates going down, is it a good idea to lock in a fixed rate or would anyone suggest a different strategy?

If a refinance in a year or two is likely wouldn't that make an ARM (assuming a lower present rate than fixed) the best option?

Which is why I specified if ARM rates are currently lower. No idea if that's the case now but if a refinance is likely it's probably worth checking out particularly with balance sheet lenders that are looking to book business in a slow market.

We have been the title sponsor for this board for 17 years and would love a chance to earn your business with a quote as well. My email is my screen name here.

As for locking or not, what is the closing date in the contract?

It is October 16th.

Rates I'm getting quoted right now are just over 6 percent with no buy down. 30 year fixed. I need to look into arm rates because I agree, ideally rates keep going down and we would refinance in a few years anyway.

I will email you about getting a quote.

Quote sent over!

I can shop around loan investors as a broker, some of them are getting more aggressive after yesterday's Fed rate cut. For example, I locked a 30yr fix conventional earlier today with 780 credit at 5.625% no points; with option for 5.375% with 1 point.

I'd go 5.625% no points as you'll likely be refinancing in a year or two.
Feel free to email me at: Bwalters@primelending.com

This seems like a good enough place to ask this question… I have a 22 acre property I bought last year at 7% on a 20yr. It is raw land and remaining principle is less than $200k. Are raw land rates coming down at all yet? These sub 6% rates are getting me excited on 30yr mortgages you guys are talking about.