30 Year Fixed Rate Loan at ZERO Points: 4.375%* (rate requires impounds)
Rates remain about the same today as on Friday, as the markets sit on edge waiting for major corporate earnings reports and other major economic news this week. Expect more volatility.
Note that our Rate Quote above is for a "No Points" loan in lieu of our typical "One Point" loan. This is because the "Yield Curve" is very flat today, meaning borrowers get little bang for their buck in paying points. We will strongly encourage "No Points" loans today for that reason (It is not worth paying a point to buy down your rate 1/8 of a per cent).
This brings up another point. Among our 50 or so lenders, only one (Plaza Mortgage) is offering 4.375% at "No Points". No other lender touches that rate today. We have an EXTREMELY rate conscious buyer right now shopping for the "best rate available", and none of our competitors have come close to matching our quote.
This is why it is so important to have access to multiple lenders. Both RATES and GUIDELINES vary tremendously from lender to lender.
Jay Voorhees and Heejin Kim at (925) 855-4491
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