These are the San Francisco numbers [the ones I see] from the Yahoo finance home page .... looks good .... what do others see in their area?
Loan Type Today Last Week
30 yr fixed 3.48% 3.42%
15 yr fixed 2.86% 2.82%
30 yr fixed refi 3.47% 3.41%
15 yr fixed refi 2.85% 2.81%
30 yr jumbo 3.97% 3.97%
5/1 ARM refi 2.90% 2.90%
I don't have a mortgage anymore, but the rates are so low that it is a temptation to put a $1 million on the house at 3% and put it in the market earning 9% .... but I won't.
I have a friend in the loan-origination business, and he's tried to sell me that idea so many times that it makes me sure that many of his clients are people doing just that.
I have to keep reminding him that diversification doesn't mean just multiple stocks in the market, but multiple forms of investment and multiple levels of risk.
The market has some attractive opportunities, but the idea that some of his customers are taking cash from their houses and putting it into gold assures me I'll be wealthier than they are in a decade.
/// to put a $1 million on the house at 3% and put it in the market earning 9% ///
A pretty safe bet would be to put in some preferreds (like RAS or AGNC). It would be hard to loose.
Washington, DC, Metro area: 3.375% for 30 year fixed, Conventional, conforming.
2.75% for 5/1 ARM Refi (I got mine at 3.0% in January 2012)