Home › Forums › Housing › Oh my… Countrywide just set new rates (effective tomorrow)… › Anyone else have any input
Anyone else have any input regarding this rather large discrepancy in rates?
First SBH said he paid 1.5 points to get his 6.5%. That probably puts the actual “par” rate around 7.2-7.5%. You can always pay to bring down a rate.
Second, regarding the CW rate sheet. That is just a small portion of the programs they have availble. It looks to be a subprime rate sheet. Most likely only used for borrowers with lower credit. Though they have 700+ ficos listed on that rate sheet, most likely that credit range would use a different sheet.
From what I here from my broker freinds jumbos for people with good credit are starting in the low 7s now. Keep in mind just a few weeks ago they would be just a hair over prime rates which was about 6.5. So basically rates on jumbos have gone up .75 points and up depending on the exact situation in the past week.