God I wish we had 30 year fixed mortgages here in Australia. Imagine getting one of those during covid when rates were below 3%. Incredible.
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Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
81–90 of 132 posts
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#82This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#83good one, mission accomplished! ++1 Ideas for monetization: Setup an automatic email alert if prices are changing for a given area and charge 5 USD per year per user. Also you could extend this project and sell it later to one of the financial mags / publishers / websites.
I'd be into that, maybe. I guess if I could find an APR 0.5% better than what I've got, I'd refi. I wouldn't have subscribed last year, but now that rates are dropping, it's worth tuning in. But there is a voice of doubt: I'll probably hear about lower mortgage rates in a news headline or my original broker might even reach out.
Id say: There are definetly some persons out there who are willing to pay, and since its once a year usually they forget about their subscription :-D
I do not know about the US market: In the EU, mortgage markets are highly fragmented and its possible to live in one area and get a loan from a bank in another area
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#84This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
Right there on https://hypofriend.de/en/mortgage-rates-germany first link on Google.
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#85This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
The current rate in France is more or less 3.2% for 25 years. It's better than the rates we see on this page but as someone who bought at a rate of 1% (1.75% real rate, something like that) I strongly advise people not to have a 33% debt ratio.
This is the max allowed by banks but it's a huge risk compared to renting which is basically risk-free. Buying something less expensive to have a smaller debt ratio may be better than renting.
ps: comparing rates alone isn't fair because Europe has a lot more taxes
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#86Nice Work! I found our credit union posts the mortgage rates clearly on a plain text like page. There's no BS and no games. Whereas with the big banks, you get the games and higher rates .. no matter if they have records of 10 years of your salary deposits. When I tried to suggest credit unions to friends, I got looks. Like, people just assume what everyone else does (get conned by big banks) is good.
I have had bank accounts only with credit unions for the last 20 years. I have never found a need to open an account with one of the big banks. That said, people look at me like I’m crazy when I mention this.
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#87Nice work. Navy Federal has always had competitive rates: https://www.navyfederal.org/loans-cards/mortgage/mortgage-ra... Membership requires a military connection in the family, but it can go back to grandparents: https://www.navyfederal.org/membership/eligibility.html
Love a public rates page. Added to my list for tomorrow.
This was the first one I looked for as well, NFCU is (per Wikipedia) the largest CU in terms of size and membership in the US - but wasn't included. I think you should add a "how I chose these Credit Unions" on your overview, as missing NFCU immediately made me wonder what others were missed; RBFCU - largest in TX and 10th largest in US - is missing as well. So I'm left to wonder how 2 of the largest CUs in the country were just... missed.
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#88ccc
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#89This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
Right there on https://hypofriend.de/en/mortgage-rates-germany first link on Google.
They are exactly the kind of mortgage broker mentioned in the parent comment.
Re: Show HN: I built a dashboard to compare mortgage rates across 120 credit unions
#90This is awesome! I wish there was sth similar for Europe! In Germany you have to go to a morgage broker and trust that his self-interest is aligned with yours :D
I pay a below 1% fixed rate for a 20 years mortgage since 4 years ago here in Belgium
I went to a mortgage broker first who offered me worse tho not necessarily bad rates with other banks as an option. The 2 best options I found were not on his roster. The mortgage broker did say he preferred not taking insurance discounts as those insurance cost could go up up to a maximum and couldn't then be renegotiated separately. But so far it's been better for me and of course that broker would also have negotiated the separate insurance and gotten his cut.