Go Refinance Again!!! 10yr Treasury meteoric drop the last week!

[J. Martin]

Call up your mortgage broker! Get your documents together!

Average 30yr mortgage rates have dropped from around 4.0% at the end of 2015 to below 3.6% being quoted today. That's 40bp in a little over a month! We are now approaching the record low mortgage rates of late 2012, as the 10yr treasury dropped below 1.55% today intraday..

If you haven't refinanced everything lately, it may be time!!!

@Account Closed ,

As a tag along, the plummet in treasury yields is a strong sign of how investors feel about a global slowdown and asset market turmoil. While it gives us a boost from interest expense savings today, it is NOT a great sign for the economy!!!

[Account Closed]

J,

You're such an alarmist. The sky is not falling......yet. How do you think my theory of 2.75-3% 30-year fixed mortgage in the next recession now?  :>)

When I studied economic history in 2009-2011, I saw so much similarities between now and the past. I was a stay-at-home dad at that time so I had too much time on my hand.  Btw, it was an amazing experience being a stay-at-home dad, and I wouldn't change it for anything.

I was posting on another forum and predicting lower interest rates for the next decade or two. People were calling me names. They said hyperinflation is coming. I wanted them to be right because that would be so good for landlords. However, that was not what history has shown. Doesn't matter what data I provided, they refused to accept it. IMO, they let their emotion get in the way of history.

I was also calling the top of our housing market in 2016-2017, and the next bottom to be around 2020. I said they it would be a mistake if they're not buying...then. They called me a liar, and house prices would go lower. Not to toot my own horns, but it amazes me how it's playing out now. It's almost like history repeats or rhymes itself. 

Now, I just have to figure out a deal structure for our meeting tomorrow. I'm not giving away the secrets over pizza and beers. @David C. has been getting it for free, and he couldn't get me to stop talking about it. LOL!