Rates are looking really good to close out the year.
If you are above a 720 FICO and at no more then 80% LTV, par rate starts at 6.5% !!
That's almost a full point down from two weeks ago.
If you want to know what your personal rate might be, click the big red button on top of the page to contact me.
Tuesday, December 23, 2008
Why are jumbo rates so much higher??
Okay, the number question I've been asked this week was...why are jumbo rates still so high??
The main factor is RISK!! Home values are still going down and lenders are not sure where the true bottom lies, therefore they are limiting their risk right now. With the action the FED is taking in making homes affordable and trying to keep mortgage rates low, I expect that the Jumbo Mortgage rates will follow and drift lower.
If I was in the market today, I would wait until OB is all the way in the white house before I sign on the dotted line. I think that we will see low home prices and low mortgage rates for the first half of next year, before they drift upwards for the next five years.
Please keep in mind that these are personal opinions of Your Satori and not that of The Satori Group.
The main factor is RISK!! Home values are still going down and lenders are not sure where the true bottom lies, therefore they are limiting their risk right now. With the action the FED is taking in making homes affordable and trying to keep mortgage rates low, I expect that the Jumbo Mortgage rates will follow and drift lower.
If I was in the market today, I would wait until OB is all the way in the white house before I sign on the dotted line. I think that we will see low home prices and low mortgage rates for the first half of next year, before they drift upwards for the next five years.
Please keep in mind that these are personal opinions of Your Satori and not that of The Satori Group.
Tuesday, December 16, 2008
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