3 ms·

How is that going to help?

• joezydeco 6y ago
  It's going to benefit lenders and bondholders that have seen an insane amount of churn in the market in the last 12-18 months. I refinanced my own mortgage three times in the last year and a half. Three times! I started 2018 at 4.5% and now I'm at 3.0% (30Y Fixed). And I'd do it again if we got to 2.5%. But that also means all those bonds that were expecting 30 years of 4.5, 4.0, and 3.5% interest are going to perform lower than promised because my interest money isn't going into those anymore. And we can't have that now, can we?
  • joshstrange 6y ago
    3 times? Dang, RIP your hand. I refi'd in September at 2.25% and the stack of papers I had to sign... not fun. Also I have literally never had to sign my middle name but I had to do it for each signature. I was really hoping they weren't going to hassle me about my signature since it degraded over the course of everything I signed.
    • joezydeco 6y ago
      It's been way more streamlined than it used to be. And a purchase is always more paperwork than a refi. Because of COVID I was able to do it in the parking lot of the title company with my dog in the backseat. Done in 20 minutes.
      • joshstrange 6y ago
        Dang, mine took 45 minutes minimum and we did it in masks in my house. I swear I signed less when I bought the house but there is a chance I'm mis-remembering.
        • joezydeco 6y ago
          I recall we also did a huge bunch of signatures electronically (like the disclosures) ahead of time.