All good points, thanks. Frankly, since I'm not shopping for a loan for myself, I don't much care what specific loan rates are today - or next week or month, just what the general trends are, as they clearly influence activity in our business.
The comments I heard were from a smart loan expert (whom I met years ago when I was shopping for my condo) who writes a column and does a radio show for the LA market about the loan business. He speculated that some rates may even get back down into the 3% range, although he didn't get into detail. (My guess is that would be for either ARMs or for shorter term loans.) And, of course, he could be completely wrong. But it was the first encouraging thing I've heard in a while regarding factors that could influence volume in our business down the road. (Short term, the biggest factor is likely to be the government shutdown, which apparently has stopped the processing of 4506-Ts.) |