30 Year Fixed Rate at a Cost of One Point: 4.25%*
We have one lender (Citi again) offering 4.25%; all of our other lenders are remain at 4.375%, as rates improved only slightly today after disappointing retail sales numbers were announced. Prior to today rates have been trending slightly upward every day for the last several days.
This is largely due to money managers shifting their focus back to stocks in an effort to chase higher yields. This translates to less demand for bonds and mortgages and generally higher rates. The advice we are getting from our analysts is to lock now, as rates appear to have bottomed out.
We frequently get requests for Amortization Schedules from our more conservative borrowers who want to see how fast they will/can pay down their principle. Bankrate.com has a great link that provides excellent amortization schedules with minimal input. Here is that link: http://www.bankrate.com/calculators/managing-debt/loan-calculator.aspx
We realize we are taking a mild risk by sending our clients to Bankrate b/c they have advertisements from mortgage lenders. But, our rates and turn-times are always much better than those advertised, so we worry little. Bankrate is a great resource.
Jay Voorhees and Heejin Kim at (925) 855-4491
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment