Posted by Donna LaBelle on 6/17/11 11:02am
Msg #386610

there's someone offering 2.625%

loans. It was on CNN, Wall Street Journal, etc.

Reply by Susan Fischer on 6/17/11 11:25am
Msg #386619

If it looks to good to be true...it is. Is that rate an ARM? n/m

Reply by Linda_H/FL on 6/17/11 11:27am
Msg #386620

The one I saw is a 5/1 ARM...

I suppose the savings over the 5 years can make it worthwhile...just hope one can refi at the end of that 5 for a respectable rate.

Reply by MikeC/NY on 6/17/11 3:24pm
Msg #386678

Re: The one I saw is a 5/1 ARM...

"just hope one can refi at the end of that 5 for a respectable rate."

It's that kind of hoping (on the part of the borrowers, fed to them by the loan officers) that got us in the mess we're in now...

Reply by Linda_H/FL on 6/17/11 3:30pm
Msg #386680

Yep, Mike... n/m

Reply by MW/VA on 6/17/11 3:39pm
Msg #386685

What difference does the rate make if no one qualifies? n/m