There was not so much of a rate hike but rather a complete restructuring of guidlines for subprime. Nothing over 65% on an arm (no 2 years at all anymore), considering they used to go to 100%…
Fixed there has been a mild rate hike (maybe 20-30 bps across the board) and you can go to LTVs up to 90% still, but reduced per fico score.
On “stated loans” the rates are astronomically higher and LTVs for every fico range reduced dramatically.
On alt-a bigger “hits” for certain situations i.e NOO and second homes also LTV restrictions for fico scores. But not persay a rate hike. Alt-a still follows prime with rates slightly worse per situation.
All changes are lender dependent however there was a good bit of restructuring yesterday across the board. However, it does seem to be a work in progress.
