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Mortgage Interest Rates and Refinancing

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    Mortgage Interest Rates and Refinancing

    Hey TBH Friends. Mortgage rates continue to dip and are at their lowest in the last 18 months. If you’ve been in your home for a few years or refinanced in 2022 or earlier, this is likely not relevant (but might be). Congrats to all you 3.0% and lower guys who rode that train with me 2019 – 2022!

    Any way you cut it, there is a refi boom coming in the mortgage world. If not already, you’re about to get covered up with mail and advertising telling you go, go, go and why “they” should be your go-to lender. If you want to work with someone you know you can trust, I’m here for you. I’m seeing so many BS rates slung around right now. They never tell you how much in upfront cost (points or stupid high origination fees) that rate will cost you. Who is that guy? He’s probably in his underwear in Mom’s basement in New Jersey.

    REASONS TO CONSIDER A REFI NOW
    1. You purchased in the last year and a half and your current rate flat out sucks. If you’re high 6’s or in the 7s, it may be time.

    2. You’re a bit snowed under with other debt and should consider consolidating with a cash out refi. 18+% on a high balance credit card can get out of hand real quick.

    3. You purchased with an adjustable rate mortgage back in the day and are nearing that adjustment term.

    I’ll never ask for your business. I will make clear that I am available to answer any questions you might have. I don’t care if you’re already working with another lender. Often, they’re not great at explaining things. Maybe you wonder if their deal is really a “deal” and want to gut-check them. I do that all the time.

    If you want to talk, phone or email is best. I miss way too many PMs.

    Trey Powers
    512-203-5869
    trey@treypowers.com
    MLS 1294913


    #2
    Great to see rates dropping!

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      #3
      got some land in the wheeler shamrock county area we were wanting to buy but interest rates were 8.2 lowest they would quote. Any chance you could do better?

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        #4
        This...is an encouraging read!

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          #5
          Originally posted by bear View Post
          got some land in the wheeler shamrock county area we were wanting to buy but interest rates were 8.2 lowest they would quote. Any chance you could do better?
          I have to be careful when I talk about or quote rates. Govt regulatory stuff. I'll just say that's a very fair rate right now on a land loan.

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            #6
            That is great news to see the rates dropping!!!

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              #7
              Shout out to TX cattleman I refi'd a few years back with him and the process was seamless. I should have listened to him and did the cash out refi and remodeled my kitchen then. Locked me in a 2.625%.

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                #8
                My short term loan rates for Cap Ex Machinery is 8 to 8.5% and it’s killing my business.

                Folks got accustomed to 4% free money.

                I need better rates….Downey is eating her babies!😜

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                  #9
                  Do you offer home construction loans? Im a builder and about to start a spec.

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                    #10
                    I rode dat train thank God

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                      #11
                      Do you do new construction loans?

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                        #12
                        Originally posted by RutnBuk View Post
                        Do you offer home construction loans? Im a builder and about to start a spec.
                        I do construction loans all day, but on a spec it becomes a commercial loan, rather than a residential mortgage. I'm out, unfortunately.

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                          #13
                          Originally posted by HUNTIN HARD View Post
                          Do you do new construction loans?
                          Yes sir

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                            #14
                            What are the rates currently? I closed in 2022 with a 5.5% rate, was hoping to refinance when it got closer to 4.

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                              #15
                              Originally posted by TXcazador91 View Post
                              What are the rates currently?
                              It depends on how much you want to pay in points. When did you close in 2022? I ask because we closed in Nov 22, and we had a 7.125% interest rate, with near perfect credit, 20% down, and were still waiting to sell our old house.
                              Did you pay in points in 2022? There is a high likelihood you still haven't paid off what you paid in points if you got 5.5% in 2022. At the time for us, is was like $10k in points to get to 5.5%. So even if we saved $300 a month, it would take us just shy of three years to pay off the points.

                              Rates appear to be back on the rise based on the 10 year treasury bonds this morning.

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