- This topic has 140 replies, 14 voices, and was last updated 15 years, 11 months ago by
HLS.
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December 11, 2008 at 11:38 AM #314750December 12, 2008 at 11:09 AM #314761
HLS
ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
December 12, 2008 at 11:09 AM #315118ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
December 12, 2008 at 11:09 AM #315152ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
December 12, 2008 at 11:09 AM #315174ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
December 12, 2008 at 11:09 AM #315245ParticipantScarlett,,
Rates move around all day long…Please understand there is no rate that fits all people. It depends on what you qualify for.
With 10% down, Depends on whether credit score is 720+ OR 719 or below.
Assuming that you qualify based on full doc income, Best wholesale rates at this moment are 4.875% but you will be paying a mortgage insurance premium in addition.
Without knowing a loan amount it’s impossible to know the extra payment.Rates can be different in a few minutes.
A lock guarantees your rate, but you still need to qualify.Loan limit in San Diego County is $546,250
If you want an update, you can contact me at [email protected]
December 12, 2008 at 2:59 PM #314907drunkle
Participant[quote=peterb]That was my initial reaction as well. But it’s more about supply/demand for the actual interest rate or cost of the money. As now the market has lower rates, but down payments have become important again as has strict documentation. Risk will be better mitigated through lower LTV’s and better documentation. I think we’re seeing this now and will see it more inthe future. I would not be surprised to see real CPI going negative in 2009. Check out ECRI’s website for more on this. So, in essence the old 6% is the new 4%. Economics takes on a different set of rules when inflation is now longer running the game.[/quote]
what is ecri?
i don’t understand your inflation argument; during the past 30 years, we’ve had relatively constant and steady inflation and yet interest rates fluctuated like an osciliscope. even now, rates are still historically low despite the massive credit induced inflation of the past 7 years.
where’s the deflation come in?what i see is artificial manipulation of mortgage rates. the fed is buying gse’s, the fed came right out and said they would do so. there isn’t so much “organic” demand outside of the fed. they are the ones creating the demand and lowering rates in order to try and prop up the housing market. how long can the fed do this before it impacts the gov balance sheet and the cost of gov debt? not long, i don’t think. to me, this says that inflationary policies cause lower cost of debt due to the high supply of money. whereas, deflation, the destruction of money, decreases the supply and therefore drives rates up. isn’t that what volker did in the 70’s-80’s? destroy the money supply in order to drive rates up? isn’t that what happened when greenspan in 03’ish implemented loose (inflationary) money policy and drove rates down?
December 12, 2008 at 2:59 PM #315263Participant[quote=peterb]That was my initial reaction as well. But it’s more about supply/demand for the actual interest rate or cost of the money. As now the market has lower rates, but down payments have become important again as has strict documentation. Risk will be better mitigated through lower LTV’s and better documentation. I think we’re seeing this now and will see it more inthe future. I would not be surprised to see real CPI going negative in 2009. Check out ECRI’s website for more on this. So, in essence the old 6% is the new 4%. Economics takes on a different set of rules when inflation is now longer running the game.[/quote]
what is ecri?
i don’t understand your inflation argument; during the past 30 years, we’ve had relatively constant and steady inflation and yet interest rates fluctuated like an osciliscope. even now, rates are still historically low despite the massive credit induced inflation of the past 7 years.
where’s the deflation come in?what i see is artificial manipulation of mortgage rates. the fed is buying gse’s, the fed came right out and said they would do so. there isn’t so much “organic” demand outside of the fed. they are the ones creating the demand and lowering rates in order to try and prop up the housing market. how long can the fed do this before it impacts the gov balance sheet and the cost of gov debt? not long, i don’t think. to me, this says that inflationary policies cause lower cost of debt due to the high supply of money. whereas, deflation, the destruction of money, decreases the supply and therefore drives rates up. isn’t that what volker did in the 70’s-80’s? destroy the money supply in order to drive rates up? isn’t that what happened when greenspan in 03’ish implemented loose (inflationary) money policy and drove rates down?
December 12, 2008 at 2:59 PM #315297Participant[quote=peterb]That was my initial reaction as well. But it’s more about supply/demand for the actual interest rate or cost of the money. As now the market has lower rates, but down payments have become important again as has strict documentation. Risk will be better mitigated through lower LTV’s and better documentation. I think we’re seeing this now and will see it more inthe future. I would not be surprised to see real CPI going negative in 2009. Check out ECRI’s website for more on this. So, in essence the old 6% is the new 4%. Economics takes on a different set of rules when inflation is now longer running the game.[/quote]
what is ecri?
i don’t understand your inflation argument; during the past 30 years, we’ve had relatively constant and steady inflation and yet interest rates fluctuated like an osciliscope. even now, rates are still historically low despite the massive credit induced inflation of the past 7 years.
where’s the deflation come in?what i see is artificial manipulation of mortgage rates. the fed is buying gse’s, the fed came right out and said they would do so. there isn’t so much “organic” demand outside of the fed. they are the ones creating the demand and lowering rates in order to try and prop up the housing market. how long can the fed do this before it impacts the gov balance sheet and the cost of gov debt? not long, i don’t think. to me, this says that inflationary policies cause lower cost of debt due to the high supply of money. whereas, deflation, the destruction of money, decreases the supply and therefore drives rates up. isn’t that what volker did in the 70’s-80’s? destroy the money supply in order to drive rates up? isn’t that what happened when greenspan in 03’ish implemented loose (inflationary) money policy and drove rates down?
December 12, 2008 at 2:59 PM #315319Participant[quote=peterb]That was my initial reaction as well. But it’s more about supply/demand for the actual interest rate or cost of the money. As now the market has lower rates, but down payments have become important again as has strict documentation. Risk will be better mitigated through lower LTV’s and better documentation. I think we’re seeing this now and will see it more inthe future. I would not be surprised to see real CPI going negative in 2009. Check out ECRI’s website for more on this. So, in essence the old 6% is the new 4%. Economics takes on a different set of rules when inflation is now longer running the game.[/quote]
what is ecri?
i don’t understand your inflation argument; during the past 30 years, we’ve had relatively constant and steady inflation and yet interest rates fluctuated like an osciliscope. even now, rates are still historically low despite the massive credit induced inflation of the past 7 years.
where’s the deflation come in?what i see is artificial manipulation of mortgage rates. the fed is buying gse’s, the fed came right out and said they would do so. there isn’t so much “organic” demand outside of the fed. they are the ones creating the demand and lowering rates in order to try and prop up the housing market. how long can the fed do this before it impacts the gov balance sheet and the cost of gov debt? not long, i don’t think. to me, this says that inflationary policies cause lower cost of debt due to the high supply of money. whereas, deflation, the destruction of money, decreases the supply and therefore drives rates up. isn’t that what volker did in the 70’s-80’s? destroy the money supply in order to drive rates up? isn’t that what happened when greenspan in 03’ish implemented loose (inflationary) money policy and drove rates down?
December 12, 2008 at 2:59 PM #315390Participant[quote=peterb]That was my initial reaction as well. But it’s more about supply/demand for the actual interest rate or cost of the money. As now the market has lower rates, but down payments have become important again as has strict documentation. Risk will be better mitigated through lower LTV’s and better documentation. I think we’re seeing this now and will see it more inthe future. I would not be surprised to see real CPI going negative in 2009. Check out ECRI’s website for more on this. So, in essence the old 6% is the new 4%. Economics takes on a different set of rules when inflation is now longer running the game.[/quote]
what is ecri?
i don’t understand your inflation argument; during the past 30 years, we’ve had relatively constant and steady inflation and yet interest rates fluctuated like an osciliscope. even now, rates are still historically low despite the massive credit induced inflation of the past 7 years.
where’s the deflation come in?what i see is artificial manipulation of mortgage rates. the fed is buying gse’s, the fed came right out and said they would do so. there isn’t so much “organic” demand outside of the fed. they are the ones creating the demand and lowering rates in order to try and prop up the housing market. how long can the fed do this before it impacts the gov balance sheet and the cost of gov debt? not long, i don’t think. to me, this says that inflationary policies cause lower cost of debt due to the high supply of money. whereas, deflation, the destruction of money, decreases the supply and therefore drives rates up. isn’t that what volker did in the 70’s-80’s? destroy the money supply in order to drive rates up? isn’t that what happened when greenspan in 03’ish implemented loose (inflationary) money policy and drove rates down?
December 12, 2008 at 3:05 PM #314922The OC Scam
ParticipantHLS,
Can you count renting a room as income for a refinance loan? (seriously a question for a friend)
[img_assist|nid=9798|title=bailout t shirt|desc=|link=node|align=left|width=350|height=350]
December 12, 2008 at 3:05 PM #315278ParticipantHLS,
Can you count renting a room as income for a refinance loan? (seriously a question for a friend)
[img_assist|nid=9798|title=bailout t shirt|desc=|link=node|align=left|width=350|height=350]
December 12, 2008 at 3:05 PM #315312ParticipantHLS,
Can you count renting a room as income for a refinance loan? (seriously a question for a friend)
[img_assist|nid=9798|title=bailout t shirt|desc=|link=node|align=left|width=350|height=350]
December 12, 2008 at 3:05 PM #315334ParticipantHLS,
Can you count renting a room as income for a refinance loan? (seriously a question for a friend)
[img_assist|nid=9798|title=bailout t shirt|desc=|link=node|align=left|width=350|height=350]
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