FROM & SD R,
I’m not ignoring you, just swamped since yesterday.
I’ll answer the OP when I can, next day or so.
Not to bang the gong, but I price ALL my loans for any client at the PAR rate. This is a rate that pays NOT A PENNY to the originator. This is why a fee needs to be charged. It’s the BEST rate for the borrower without a buy-down. Assuming that loan will be kept at least 2 years, it’s what every borrower wants, but doesn’t usually get.
Even major banks have wholesale and retail rates. The PAR rate is the back door wholesale rate. See my separate post about rebates and YSP.
What you see on Yahoo or any other site is just estimates and averages. Just an indication.
Depending on what you qualify for, every lender has different rates and programs with PAR rates.
10 diff lenders could have 10 diff PAR rates for 30 yr fixed. There are specials and loans ARE still being underwritten and funded.
By the way, SD R, You don’t know me and I don’t know you, but I respect YOU… I have thick skin, and am not stressed over the current market conditions. I’ve predicted this for 4-5 years, and am well prepared…I have nothing to lose by telling the truth. It’s how I conduct my life.
However, I will tell you that there are several real idiot morons with conspiracy theories posting on this board that accuse me of having an agenda.
I’ll pick and choose who I reply to, and will call a spade a spade. Everyone’s entitled to their opinion, but I don’t deal well with ignorance and stupidity.
You told me that my type didn’t stick around long, and I know why. I can spend my time better than posting with complete honesty here and being accused of lying.
