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Updated 11 months ago on . Most recent reply

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Tom Server
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Where to see rates

Tom Server
Posted

How can i see what rates are from investment property purchases?  Im in the middle of buying a no owner occupied triplex and my lender locked  in about last week..  i keep seeing stuff online about rates are dropping. I asked him about it and said something about rates dropped 3 days ago  and got the low rate. Im just curious to see what its at now. I think i locked at 7.6% and paid like 3k in points and also saw 8.0% apr on contract

If i asked what the rates are at now does he have to tell me. I always feel like he beats around the bush when i ask..

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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied

Its going to vary for so on private lenders/Non-QM or DSCR from lender to lender and more than conventional which is more standard among lenders.

https://www.mortgagenewsdaily.com/ is a good resource for generally daily/weekly moves in mortgage rates in general

https://www.google.com/finance/quote/FVX:INDEXCBOE?sa=X&... The 5-Year Treasury rate is generally the right benchmark for non-owner occupied Non-QM (assuming thats the direction you are in) - and rates will generally move in concert.

I'd be happy to look at your scenario and let you know opinion on if its in line with current rates - that being said, economic data has been brutal this week and yields have risen every day, so its unlikely that rates have gotten better since you locked in last week (if you got a true rate lock)

  • Robin Simon
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