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Interest rates, farm financing, mortgage rates, etc

Huntinguy said:
Is that for a house or ground? If someone can get a 10yr note at 1.31% that's really good. If I my ask did you find a bank to give you that low? Or am I not understanding you right
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Treasury rate is rate investors make on federal debt security's. There is a a direct correlation to interest rates on mortgages.

Add several points to get to land lending rates.

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Dropping again ...if anyone wants to buy a farm/parcel of hunting land that has not...please go look now, run the numbers you will be surprised. PM if you want any tips on amortization etc..., or check with some of the guys on here that have land. You will not see these rates very often.
 
IowaBowHunter1983 said:
Random thought of the day that might help someone. Mortgage rates are near record lows. If you have equity in your house, its a great way to buy a farm!

3.375 on 30 year money is badass....

Have a good day.
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This^....2.75 today on 15 year for primary residence.
I do farm RE loans with up to 30 year fixed rates as well


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mswaldo said:
Can i ask where you got a low rate like that? fixed?

DWGH - Are you in the loan business?
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Yes, Im a Lender at my family’s owned/operated community bank
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I work for Midwest Family Lending and have for 8 years. I've been in the business for 19 years and have seen about everything possible. If anyone on here is looking to refinance or purchase a home let me know. Monday should be a great day to look at locking in rates due to the crash of the 10 yr bond on Friday. If you have questions send me an email at joshb@midwestfamilylending.com
 
By what is going on right now in the financial markets is a prime example of why you don't borrow money against a paid off house or close to paid off house to buy a piece of hunting ground. If or when we go into recession, depending on its severity, there will be jobs lost...if you lose yours and don't make your payment, you lose your house and your land. "I'll just sell my land"...everyone will be selling their luxury hunting ground, land prices will go down. Harry Truman quote.. It's a recession when your neighbor loses his job; it's a depression when you lose yours. Enjoy the rates but keep it separate from your home. My 2c
 
"Interest rates on home mortgages are always lower than on land loans. Interest rates on 30-year bonds are now 3.5% or lower.
If I had a bunch of equity in my house, I could refinance the house, pull the money out and buy a farm. On the contrary, you pay for the farm but at a lower rate. You can learn more about similar cases here
https://www.youngandthrifty.ca/the-ultimate-guide-to-canadas-discount-brokerages/
I haven't done that, but it would be a great way to go. I cashed out and refinanced my house at 3.375%, which got me thinking about it again.
"
 
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Stellayuni said:
"Interest rates on home mortgages are always lower than on land loans. Interest rates on 30-year bonds are now 3.5% or lower.
If I had a bunch of equity in my house, I could refinance the house, pull the money out and buy a farm. On the contrary, you pay for the farm but at a lower rate. You can learn more about similar cases here
https://www.youngandthrifty.ca/the-ultimate-guide-to-canadas-discount-brokerages/
I haven't done that, but it would be a great way to go. I cashed out and refinanced my house at 3.375%, which got me thinking about it again.
"
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You may want to clarify that you did that earler this year or prior.
30 year mortgage rates are 6.5-6.75% as of close of business today
 
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