Rates expected to go down, so at mid fives... fed lowered by .75, consumer rates sprung up. Market up rates down and home equity rates down. It can be confusing but still all good!
Today consumer rates down to mid fives again. Get locked quick if you are in the market. Keep you money in your pocket! Remember rates change constantly. Good Luck!
Showing posts with label great rates. Show all posts
Showing posts with label great rates. Show all posts
Thursday, March 20, 2008
Tuesday, March 18, 2008
Rates are dropping!...
That's what I am hearing! The feds are cutting again, trying to find solutions & hopefully will have a positive impact on the country. Financing refis are a viable option. I am doing financing through my parent company now and received a note to act NOW!
The word on the street is that Fannie Mae is tightening up. The lenders are all but eliminating standard 100% mortgages that have been a staple in the recent past. FHA will still offer the 97% loan products with more flexibility than conventional. The qualification is going to getting tougher, even for those who have high credit scores, consistent incomes and some equity. All risk takes a hit. There is a risk attached to Home Equity Loans that are adjustable, too. Lenders who have a high home equity portfolios are being seen as higher risk. I am personally projecting rents to increase, even if property values are not increasing the same as they were before. Hello investors!
The word on the street is that Fannie Mae is tightening up. The lenders are all but eliminating standard 100% mortgages that have been a staple in the recent past. FHA will still offer the 97% loan products with more flexibility than conventional. The qualification is going to getting tougher, even for those who have high credit scores, consistent incomes and some equity. All risk takes a hit. There is a risk attached to Home Equity Loans that are adjustable, too. Lenders who have a high home equity portfolios are being seen as higher risk. I am personally projecting rents to increase, even if property values are not increasing the same as they were before. Hello investors!
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