We refinanced earlier this week at 3.15

Plan on being here for the rest of my days
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This is timing good for me as I'm closing on two properties the same day 3/24. But I'm sure the lowest my bank is going to go is 5% just because they're commercial loans.
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We locked in at 3.375 about 2 weeks ago on a house being closed on May 6th. I’m calling first thing tomorrow to see if the rates are lower and if I can have it redone.
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Missed the part where the Fed bought up $200MM in Fannie/Freddie/Gennie mortgages. That's concerning.
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Same except I close in 15 days.
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Why?
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It's probably nothing big considering that would figure out to a few hundred mortgages but could be suggestive of a bigger problem beside Beervirus
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Discuss,

I’m enjoying your posts in here lately. Thank you. Honestly learning quite a bit.
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We will be living for the next likely 7 years, after that our daughter will be out of high school and we can move wherever makes sense at that time.
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Oof. That’s not great.
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I haven’t been paying attention. It seems that escalated quickly. But I wasn’t paying much attention in 08 either.
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What is the opinion here on buying or building in a hot (sellers) market. Renting now and planning on staying long term. We were looking at building before all this, and new builds in our market were going up 4k every 2 weeks.

What are your thoughts on what this will do to the market. I know it's a complicated question.

If it helps, my job is quite secure.
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If you’ve got enough cash to get considerable equity in the place I’d say there isn’t a huge problem. If you’ve got to leverage pretty hard I’d pass.

If it were me I’d need to be fairly confident it found a bottom before I did much.
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Huh? No.

This action has been reasonably well-telegraphed in financial markets over the last few days. The Fed only has approval to buy securities issued by the federal government or the GSEs (“agencies”). Agency mortgage-backed securities (MBS) have dramatically underperformed recently. The Fed gets meaningfully more bang for its buck by buying MBS than Treasuries, so it makes a lot of sense that they would include them in this program.

I don’t want to get too wonky, but markets have been so broken recently. Easily more than I’ve seen at any point recently and the speed of deterioration was worse than 2008. There are some very basic things in markets that aren’t functioning properly - namely something called Treasury/futures basis trades. If those are so disjointed - and those are truly risk-free trades if you can hold them for a few months - then no other risky asset on the planet will ever end up trading well. So the Fed needs to fix those and that’s what they’re doing.

This doesn’t solve the situation we’re in as there’s no silver bullet. But the Fed is doing what it can and that counts for something. Though it’ll be overwhelmed by the storm that’s still coming. I think we’re in the middle of the 4th inning right now. But valuations in the equity market (vs 0% rates) are starting to become more long-term interesting.
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Yes, plz. It'll be a good time to pick up stocks beaten down by everything dropping over the next few months. was looking at ROST v TJX a bit ago. LULU and ULTA might be decent retail adds long term?
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