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HLS
ParticipantH2B,
You certainly have some options. Feel free to contact me for some actual hard numbers and refi possibilities if you wish.
I respond as quickly as I can. ….HLS
ParticipantIt is bogus and it’s also misleading.
It is MSM blabber, reported as news.Mortgage rates right now are higher than they were two weeks ago. Compared to two weeks ago, the general dirction ISN’T down.
They were lower at the open this morning, but spiked up mid morning.
For better than average borrowers, 30 YR are at 4.875% right now.
The 10 YR Bond was up almost 16 basis points today.
.. HLSParticipantIt is bogus and it’s also misleading.
It is MSM blabber, reported as news.Mortgage rates right now are higher than they were two weeks ago. Compared to two weeks ago, the general dirction ISN’T down.
They were lower at the open this morning, but spiked up mid morning.
For better than average borrowers, 30 YR are at 4.875% right now.
The 10 YR Bond was up almost 16 basis points today.
.. HLSParticipantIt is bogus and it’s also misleading.
It is MSM blabber, reported as news.Mortgage rates right now are higher than they were two weeks ago. Compared to two weeks ago, the general dirction ISN’T down.
They were lower at the open this morning, but spiked up mid morning.
For better than average borrowers, 30 YR are at 4.875% right now.
The 10 YR Bond was up almost 16 basis points today.
.. HLSParticipantIt is bogus and it’s also misleading.
It is MSM blabber, reported as news.Mortgage rates right now are higher than they were two weeks ago. Compared to two weeks ago, the general dirction ISN’T down.
They were lower at the open this morning, but spiked up mid morning.
For better than average borrowers, 30 YR are at 4.875% right now.
The 10 YR Bond was up almost 16 basis points today.
.. HLSParticipantIt is bogus and it’s also misleading.
It is MSM blabber, reported as news.Mortgage rates right now are higher than they were two weeks ago. Compared to two weeks ago, the general dirction ISN’T down.
They were lower at the open this morning, but spiked up mid morning.
For better than average borrowers, 30 YR are at 4.875% right now.
The 10 YR Bond was up almost 16 basis points today.
.. HLSParticipantRNY is what the wholesale originator is getting for loans that can be sold, underwritten by their guidelines, delivered in that time frame.
There are risks and costs before it gets to that stage. It’s a complicated process. These are NOT retail rates for individual loans.
What you are asking is why can’t a retail customer get a true wholesale price.
In the normal course of any business, every item that anybody buys in life is being sold to them at a profit. With a mortgage you are just buying money. The cost of the product doesn’t reflect all the other costs of being in business.
You might see the wholesale cost of an item but that doesn’t reflect the net profit to the business.
There are loads of expenses in running any business over and above the wholesale cost of the product. Lots of businesses lose money even with a margin on the product.
The costs of doing business and fallout are huge, and it’s a business that is difficult to manage.
When someone locks a 30 day lock at today’s rate, until the loan is funded, it’s not a closed loan. There is nothing to deliver. Then it has to go through channels before it can be sold. There can be penalties for not delivering what was committed to.
There are commitments and lots of people along the way that get paid to do their jobs.
My cost of money was 4.75% at the end of the day, that’s 27 basis points over what you mention.
On a $400K loan that is $1080 GROSS profit to the lender (not NET profit)I don’t know of any other business that sells something for $400,000 and only makes $1080 gross.
Most mtg people have higher rates and have larger profits margins.
Not everyone qualifies for the best rates. .HLSParticipantRNY is what the wholesale originator is getting for loans that can be sold, underwritten by their guidelines, delivered in that time frame.
There are risks and costs before it gets to that stage. It’s a complicated process. These are NOT retail rates for individual loans.
What you are asking is why can’t a retail customer get a true wholesale price.
In the normal course of any business, every item that anybody buys in life is being sold to them at a profit. With a mortgage you are just buying money. The cost of the product doesn’t reflect all the other costs of being in business.
You might see the wholesale cost of an item but that doesn’t reflect the net profit to the business.
There are loads of expenses in running any business over and above the wholesale cost of the product. Lots of businesses lose money even with a margin on the product.
The costs of doing business and fallout are huge, and it’s a business that is difficult to manage.
When someone locks a 30 day lock at today’s rate, until the loan is funded, it’s not a closed loan. There is nothing to deliver. Then it has to go through channels before it can be sold. There can be penalties for not delivering what was committed to.
There are commitments and lots of people along the way that get paid to do their jobs.
My cost of money was 4.75% at the end of the day, that’s 27 basis points over what you mention.
On a $400K loan that is $1080 GROSS profit to the lender (not NET profit)I don’t know of any other business that sells something for $400,000 and only makes $1080 gross.
Most mtg people have higher rates and have larger profits margins.
Not everyone qualifies for the best rates. .HLSParticipantRNY is what the wholesale originator is getting for loans that can be sold, underwritten by their guidelines, delivered in that time frame.
There are risks and costs before it gets to that stage. It’s a complicated process. These are NOT retail rates for individual loans.
What you are asking is why can’t a retail customer get a true wholesale price.
In the normal course of any business, every item that anybody buys in life is being sold to them at a profit. With a mortgage you are just buying money. The cost of the product doesn’t reflect all the other costs of being in business.
You might see the wholesale cost of an item but that doesn’t reflect the net profit to the business.
There are loads of expenses in running any business over and above the wholesale cost of the product. Lots of businesses lose money even with a margin on the product.
The costs of doing business and fallout are huge, and it’s a business that is difficult to manage.
When someone locks a 30 day lock at today’s rate, until the loan is funded, it’s not a closed loan. There is nothing to deliver. Then it has to go through channels before it can be sold. There can be penalties for not delivering what was committed to.
There are commitments and lots of people along the way that get paid to do their jobs.
My cost of money was 4.75% at the end of the day, that’s 27 basis points over what you mention.
On a $400K loan that is $1080 GROSS profit to the lender (not NET profit)I don’t know of any other business that sells something for $400,000 and only makes $1080 gross.
Most mtg people have higher rates and have larger profits margins.
Not everyone qualifies for the best rates. .HLSParticipantRNY is what the wholesale originator is getting for loans that can be sold, underwritten by their guidelines, delivered in that time frame.
There are risks and costs before it gets to that stage. It’s a complicated process. These are NOT retail rates for individual loans.
What you are asking is why can’t a retail customer get a true wholesale price.
In the normal course of any business, every item that anybody buys in life is being sold to them at a profit. With a mortgage you are just buying money. The cost of the product doesn’t reflect all the other costs of being in business.
You might see the wholesale cost of an item but that doesn’t reflect the net profit to the business.
There are loads of expenses in running any business over and above the wholesale cost of the product. Lots of businesses lose money even with a margin on the product.
The costs of doing business and fallout are huge, and it’s a business that is difficult to manage.
When someone locks a 30 day lock at today’s rate, until the loan is funded, it’s not a closed loan. There is nothing to deliver. Then it has to go through channels before it can be sold. There can be penalties for not delivering what was committed to.
There are commitments and lots of people along the way that get paid to do their jobs.
My cost of money was 4.75% at the end of the day, that’s 27 basis points over what you mention.
On a $400K loan that is $1080 GROSS profit to the lender (not NET profit)I don’t know of any other business that sells something for $400,000 and only makes $1080 gross.
Most mtg people have higher rates and have larger profits margins.
Not everyone qualifies for the best rates. .HLSParticipantRNY is what the wholesale originator is getting for loans that can be sold, underwritten by their guidelines, delivered in that time frame.
There are risks and costs before it gets to that stage. It’s a complicated process. These are NOT retail rates for individual loans.
What you are asking is why can’t a retail customer get a true wholesale price.
In the normal course of any business, every item that anybody buys in life is being sold to them at a profit. With a mortgage you are just buying money. The cost of the product doesn’t reflect all the other costs of being in business.
You might see the wholesale cost of an item but that doesn’t reflect the net profit to the business.
There are loads of expenses in running any business over and above the wholesale cost of the product. Lots of businesses lose money even with a margin on the product.
The costs of doing business and fallout are huge, and it’s a business that is difficult to manage.
When someone locks a 30 day lock at today’s rate, until the loan is funded, it’s not a closed loan. There is nothing to deliver. Then it has to go through channels before it can be sold. There can be penalties for not delivering what was committed to.
There are commitments and lots of people along the way that get paid to do their jobs.
My cost of money was 4.75% at the end of the day, that’s 27 basis points over what you mention.
On a $400K loan that is $1080 GROSS profit to the lender (not NET profit)I don’t know of any other business that sells something for $400,000 and only makes $1080 gross.
Most mtg people have higher rates and have larger profits margins.
Not everyone qualifies for the best rates. .HLSDecember 22, 2008 at 11:28 PM in reply to: Lending guidelines for new JUMBO amounts $546K in SD County, $625K in OC/LA County #319530ParticipantAs far as I know 90% is still OK in SD, with mortgage insurance….
Hard to define their definitions (and reality)
December 22, 2008 at 11:28 PM in reply to: Lending guidelines for new JUMBO amounts $546K in SD County, $625K in OC/LA County #319581ParticipantAs far as I know 90% is still OK in SD, with mortgage insurance….
Hard to define their definitions (and reality)
December 22, 2008 at 11:28 PM in reply to: Lending guidelines for new JUMBO amounts $546K in SD County, $625K in OC/LA County #319598ParticipantAs far as I know 90% is still OK in SD, with mortgage insurance….
Hard to define their definitions (and reality)
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