Current Interest rate Environment

[HLS]

You are living on the recent past..
Since Jan 23, rates have gone straight up.

5.25% with 1 point was available a few weeks ago, for loans that were locked, and are getting signed and funded now.

IF YOU QUALIFY:
Conforming 30 YR fixed rates today are 6.00%+ at PAR, which means that you are going to have to pay a fee to get it.
15YR are 5.50% and 10YR ARM is 5.375% at the moment.
Could be higher or lower later today.

It’s funny to me that when rates were 5.25%, people wanted under 5%. Now that they are 6%, you are willing to jump at 5.25%…
IT DOESN’T EXIST today, without a buy-down cost.

Rates change everyday, and often intraday.
Many people with income and equity still don’t qualify for a loan today.

You can always buy a loan down to get your magic rates.

Almost everybody is getting fooled. If you haven’t been in the business, you probably don’t understand when you are getting the truth, regardless of what any friend or family member just closed at, but you act like you do.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[Raybyrnes]

Just reporting on what I know. I think I said in my statement it was within the last month and unless you are closing a loan today the rates could well be different tomorrow. What probably won’t change is the fact that a connected broker might still be willing to kick back a portion of that 1 % origination fee. I think that makes for a pretty good deal in terms of helping to lower the cost of the loan.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[HLS]

Ray,
I’m not doubting most of what you stated. I had a client sign loan docs this morning at 5.25% for a loan locked 2½ weeks ago…
Last week had a 5% NO COST 5 YR ARM, and a 5.375% cash out refi.

There is NO reason to charge a point and rebate .70%. That’s nonsense , or it didn’t happen excatly that way.
(Just charge .30)

You said that the 1pt is tax deductible, but forgot to mention that the .70 rebate is income.

I tell people 100% of the truth, 100% of the time, and can only laugh when people tell me what they were quoted a week ago but they didn’t lock, and can’t understand why my PAR rate is higher.

Most people don’t recognize (or understand) the truth, even if it smacked them in the face. MOST people get lied to and screwed on their loans in either rate, fees or both.

They go to friends and family members under the guise of a “free” or “no cost” loans, and get taken advantage of.

The fact is that 98% of the people don’t know their ass from their elbow when it comes to knowing what they qualify for and what the best rate is for their loan, but 100% of people think that they do know and that they got the best loan for their situation.

If your relative got that rate, they probably locked on Weds Jan 23rd. 30 YR rates were as low as 4.875% intraday, but closed that day at 5.375%. The intraday low was probably the lowest ever, and it wasn’t there long.

All the people that call around shopping by rate, end up with the biggest liar, but still get lucky once in awhile.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

[Raybyrnes]

Rate was locked in a few weeks ago. With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender. Both parties of the loan, my friend and the broker are both financial people, fairly shrewd. Seemed that each was satisfied with the terms of the loan.

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