Mr Mortgage: Mortgage Rates Soar

[an]

[quote=HLS]I can assure you that they aren’t giving loans away.

Some of their fees are high. At the moment, I can offer a buydown to 4.50% on a $417,000 loan for $4378, almost $2000 less than them but I charge more than $1995 as my guaranteed lender fee.

Their closing agent fee + title insurance is $1625, for a refi I can get it done for $1000..

The way I see it, they fool you with a low “lender fee” and get you with high discount points and other fees.

One way or the other, you will pay.

They don’t ask what your credit score is, which is CRUCIAL in pricing a loan. It just isn’t possible to quote someone an accurate rate without knowing their mortgage credit score, and they still need to qualify.

I don’t claim to have the lowest total costs, but am competitive. If lowest price is all that is important to you, pray that nothing goes wrong.
…HLS[/quote]
HLS, my posting about aimloan wasn’t me trying to take anything away from you. It’s just an easiest/quickest source for me to get some rough data. with this data, I disprove the OP claim of rates are at 5.5% with 1 points. Obviously, if one are looking to buy, one shouldn’t base solely on forum’s comments. My quote was with the best credit scores. It’s a definitely YMMV number.

[HLS]

AN….
Not a problem,, I don’t have any kind of exclusive around here… AIM may have better rates than I do at times,, I have checked on occasion and found their buydowns to be outrageously high, but a fee that appears low. It just isn’t so cheap in the end.I have no idea about their service.

You are correct in your post about the 5.50%..

What has been interesting lately is that some “wholesale” lenders have had really high rates lately while others are MUCH lower, over .50% less in rate..

It is amazing to me that these higher priced lenders seem to be getting plenty of business.

I checked one scenario today that was 5.375%-5.50% with several lenders, but I was able to get my borrower 4.875%… I feel sorry for those that are getting locked with the higher lenders today.
I am at 4.875% with 1 pt at the moment.

I’m surprised Rayb didn’t post on this,, he has been tracking some average weekly rate info that has been helpful, but I believe different than the original post.. HLS

[HLS]

AN….
Not a problem,, I don’t have any kind of exclusive around here… AIM may have better rates than I do at times,, I have checked on occasion and found their buydowns to be outrageously high, but a fee that appears low. It just isn’t so cheap in the end.I have no idea about their service.

You are correct in your post about the 5.50%..

What has been interesting lately is that some “wholesale” lenders have had really high rates lately while others are MUCH lower, over .50% less in rate..

It is amazing to me that these higher priced lenders seem to be getting plenty of business.

I checked one scenario today that was 5.375%-5.50% with several lenders, but I was able to get my borrower 4.875%… I feel sorry for those that are getting locked with the higher lenders today.
I am at 4.875% with 1 pt at the moment.

I’m surprised Rayb didn’t post on this,, he has been tracking some average weekly rate info that has been helpful, but I believe different than the original post.. HLS

[HLS]

AN….
Not a problem,, I don’t have any kind of exclusive around here… AIM may have better rates than I do at times,, I have checked on occasion and found their buydowns to be outrageously high, but a fee that appears low. It just isn’t so cheap in the end.I have no idea about their service.

You are correct in your post about the 5.50%..

What has been interesting lately is that some “wholesale” lenders have had really high rates lately while others are MUCH lower, over .50% less in rate..

It is amazing to me that these higher priced lenders seem to be getting plenty of business.

I checked one scenario today that was 5.375%-5.50% with several lenders, but I was able to get my borrower 4.875%… I feel sorry for those that are getting locked with the higher lenders today.
I am at 4.875% with 1 pt at the moment.

I’m surprised Rayb didn’t post on this,, he has been tracking some average weekly rate info that has been helpful, but I believe different than the original post.. HLS

[HLS]

AN….
Not a problem,, I don’t have any kind of exclusive around here… AIM may have better rates than I do at times,, I have checked on occasion and found their buydowns to be outrageously high, but a fee that appears low. It just isn’t so cheap in the end.I have no idea about their service.

You are correct in your post about the 5.50%..

What has been interesting lately is that some “wholesale” lenders have had really high rates lately while others are MUCH lower, over .50% less in rate..

It is amazing to me that these higher priced lenders seem to be getting plenty of business.

I checked one scenario today that was 5.375%-5.50% with several lenders, but I was able to get my borrower 4.875%… I feel sorry for those that are getting locked with the higher lenders today.
I am at 4.875% with 1 pt at the moment.

I’m surprised Rayb didn’t post on this,, he has been tracking some average weekly rate info that has been helpful, but I believe different than the original post.. HLS

[HLS]

AN….
Not a problem,, I don’t have any kind of exclusive around here… AIM may have better rates than I do at times,, I have checked on occasion and found their buydowns to be outrageously high, but a fee that appears low. It just isn’t so cheap in the end.I have no idea about their service.

You are correct in your post about the 5.50%..

What has been interesting lately is that some “wholesale” lenders have had really high rates lately while others are MUCH lower, over .50% less in rate..

It is amazing to me that these higher priced lenders seem to be getting plenty of business.

I checked one scenario today that was 5.375%-5.50% with several lenders, but I was able to get my borrower 4.875%… I feel sorry for those that are getting locked with the higher lenders today.
I am at 4.875% with 1 pt at the moment.

I’m surprised Rayb didn’t post on this,, he has been tracking some average weekly rate info that has been helpful, but I believe different than the original post.. HLS

[Raybyrnes]

My subscription to the Wall Street Journal ended. Best i can go off of at the moment is Mr. Mortgage and the internet. Looks like interest rates are up.

Just like I posted on the way down I would equally post on the way up and will once I reknew my subscription.

[Raybyrnes]

My subscription to the Wall Street Journal ended. Best i can go off of at the moment is Mr. Mortgage and the internet. Looks like interest rates are up.

Just like I posted on the way down I would equally post on the way up and will once I reknew my subscription.

[Raybyrnes]

My subscription to the Wall Street Journal ended. Best i can go off of at the moment is Mr. Mortgage and the internet. Looks like interest rates are up.

Just like I posted on the way down I would equally post on the way up and will once I reknew my subscription.

[Raybyrnes]

My subscription to the Wall Street Journal ended. Best i can go off of at the moment is Mr. Mortgage and the internet. Looks like interest rates are up.

Just like I posted on the way down I would equally post on the way up and will once I reknew my subscription.

[Raybyrnes]

My subscription to the Wall Street Journal ended. Best i can go off of at the moment is Mr. Mortgage and the internet. Looks like interest rates are up.

Just like I posted on the way down I would equally post on the way up and will once I reknew my subscription.

[waterboy]

For those of you not needing a 30yr fixed, SDCCU has a 7/1 ARM at 4.875 (0 pts and orig) and its the same for either 30 or 40 year amoritization. By far the best 7yr I’ve seen and they have low lender fees of $595 plus appraisal and the other typical 3rd party fees.

The 5/1 ARM is 4.75 but might as well choose the 7yr

[waterboy]

For those of you not needing a 30yr fixed, SDCCU has a 7/1 ARM at 4.875 (0 pts and orig) and its the same for either 30 or 40 year amoritization. By far the best 7yr I’ve seen and they have low lender fees of $595 plus appraisal and the other typical 3rd party fees.

The 5/1 ARM is 4.75 but might as well choose the 7yr

[waterboy]

For those of you not needing a 30yr fixed, SDCCU has a 7/1 ARM at 4.875 (0 pts and orig) and its the same for either 30 or 40 year amoritization. By far the best 7yr I’ve seen and they have low lender fees of $595 plus appraisal and the other typical 3rd party fees.

The 5/1 ARM is 4.75 but might as well choose the 7yr

[waterboy]

For those of you not needing a 30yr fixed, SDCCU has a 7/1 ARM at 4.875 (0 pts and orig) and its the same for either 30 or 40 year amoritization. By far the best 7yr I’ve seen and they have low lender fees of $595 plus appraisal and the other typical 3rd party fees.

The 5/1 ARM is 4.75 but might as well choose the 7yr

[Author]

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