I am also a loan officer. Im having my broker refinance my own loan . I had a 4.875% from 7 months ago . Going to a 3.625% and getting $-1,500 back in closing costs plus our usual 2% lender comp 🙂 yesterday the rate was $1,600 better if I would have locked . I locked 2 days ago. Lender rate sheets come out every morning
usually (in the last two days it’s been volatile so 2-3 reprices in a day). These rates are the lowest we seen since 2012. The best indicator of our business is the 10
Year treasure rate . It goes up a few ticks in a day then the interest rate for mortgages adjusts the next day. Each rate has a specific lender credit that can go up or down from
$500 to $1500 a day until locked .
