Posted by ME/NJ on 7/8/13 9:24pm
Msg #476010

Starting to see new rates at table and ARMS

Had 5 deals today, 30 yrs range from 4.15 - 4.30 everyone wished they had started sooner. Plus had two ARMs with 2.35-2.75 rate.

I think ARMs will be the next wave if rates stay up and people will roll the dice.

Reply by Susan Fischer on 7/8/13 10:27pm
Msg #476018

Whet, lather, repeat. How about: if we must be

Mandatory Reporters - we expand that to include the abject victimization, the outright lies by the Financial World of Wall Street's minions perpetrate on desperate borrowers (that we facilitate for profit)?

Been there, done that, it sucks.

Without deep and meaningful lending oversight, the housing market can't get off this roller coaster, and it's always the Borrowers who lose.

(Please pardon mixed metaphors)

Reply by Lee/AR on 7/9/13 7:51am
Msg #476041

Re: Whet, lather, repeat. How about: if we must be

Ah, well.... I was a LO when rates were 7-9 %. I was a R.E. Broker when rates were 8-11%. And a very broke r.e. broker when rates were 12-15%. Our first home was a VA repo at 7.5%.
The world goes on...

OT: Mandatory reporting is a very bad idea for notaries, tho' it would be nice to have some direction as to who/what to report to whom about what.

Reply by MW/VA on 7/9/13 4:02pm
Msg #476117

I saw a flat 3.0% the other day for 30 years, and a 2.0% for

a 15 year term. I'm sure they paid points to get those rates, but the 2.0 really shocked me. The lowest I had ever seen was 2.875.