[quote=HLS]For those who qualified,
Wholesale 30 YR fixed rates were 5.25% on Weds.
They were 5.00% on Tuesday.

Per FNMA guidelines, the best rate requires at least 20% equity and a mid credit score above 740.

Pricing is based on a matrix of credit score and equity. If you have at least 40% equity, your credit score can be as low as 620 to get the same rate. There are other options in between.

The wholesale rate comes with a 1% fee. (1 point)
plus title & escrow fees.

Refinance or purchases have the same rate, unless you are paying off a HELOC that was not used to purchase the property.

A true no cost loan depends on loan amount. A $400K loan with no cost,no fees was 5.75% on Weds.

Rates change every day, and often change intra day.
Full doc only, no stated income.
Other guidelines could appply. HLS
[/quote]

HLS, just curious.. Is the jumbo markets still a mess? Honestly, I haven’t been following

Is it possible we’ll be seeing something like 5% “no point/no cost”? At 5%, i would most likely pull the trigger on a refi…Been looking for around a $580k loan…However, if that means getting within the conforming limits, so be it. My current rate has been roughly 5.5%.