Weekend Update July 17
By David Zopf, Put others first and you will never be second.
(Guaranteed Rate NMLS# 2611)
Rates were on a little bit of a roller coaster this week; they dropped and then came back to about where they were last week. Jumbo’s came back in line. They are a strange bunch as they swing from the 6’s to the 8’s and it is tough to know when it will happen. SunTrust, Chase, Countrywide and Wells have their 30 yr in the 6’s while Citi, Taylor Bean, and Frankin American are all still in the 8’s. ARMs are a bit interesting lately as their par rate is a bit high but a 1% Discount point buys the rate down over 1.25%. 1% Discount points generally only buy a rate down .25%. FHA rates are lower than Conforming rates with only 3% needed as a down payment. Regarding the Fannie/Feddie saga, if you missed my “Special Report” email on Monday, you can read it and any of my past emails on my blog a...
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