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To update. 5.375 conforming as of 7/8/09 -0- points 5.0% at 1.0 point 4.875 7/8/09 at 1.5 points Assumes 720 higher FICO, SFD purchase. The "green shoots" recovery has browned out so cash is flowing into mortgages and treasuries driving rates back down. My...

50 + offers over the "bait and never close at" price are happening every day. Listing Agents are now counter offering to over valued offers requiring the buyer to acknowledge they have to pay the price they offer even if the appraisal may come in low. Most will cancel, but those who stay in will...

No amount of badly produced cable TV shows could have motivated the "keeping up with the Jones's" MEW abuse we've seen. To paraphrase... "Greed, is good, Greed is American..." and that environment of unchecked greed would have thrived no matter what the media would have told us to do, right or...

There are great broker shops and great banks. The key is who at these lenders will treat you right. I know several good people at Bank of America/Countrywide (they will never lose that name btw...) and Wells Fargo. From the sound of things very few people have good things to say about either...

If you use Bankrate, please be aware that the rates shown do not reflect accurate terms. The lowest cost provider (in this run...they change by the moment...) had a 4.875% 1.0 point 30 year fixed conforming rate. I went to their site and input the same data on their instant rate quote page, but...

Ahh the eternal question, ranking not far below "What should I have for dinner", and "Do blonds really have more fun?" All kidding aside... here's what I suggest. First - Get your own house in order. What do I mean by that? Get your documentation together first. All lenders will need 2...

Surprising, but the 2009 Gary Watt's forecast has some reality based reporting for once. This was given out recently to area Realtors. The best parts below: "The current increase in foreclosures is beginning to look very similar to what occurred in early 2007....." "Although the...

So I'm not a thoughtful person on CR's hoocodanode board....? :-) People are willing to be debt slaves, partly out of convenience, partly out of honor. If a person isn't moving and is upside down I am seeing a great deal of interest in refinancing. Many others I speak to simply feel its...

LWP - Yes, we had three for the worse, then two for the better - net .125 worse in rate. Not a catastrophe. 10Y T rates are an indicator of the direction in rates. FNMA Mortgage Backed Securities are what drive rates. You can have a 3.9 10yT with a rally in opposite direction of the FNMA...

What few lenders that will finance on leased land will require the new loan to be 5 years shorter than the existing lease: 1) 15 year lease - max term: 10 years 2) 25 year lease - max term: 20 years 3) 27 year lease - max term 20 years - because there aren't 22 year loans. Keep...

An update.... Three rate sheets today, all for the better. 5.500 standard conforming, -0- points. 5.250 for 1.0 point (on average, of course) Essentially 1/2 percent lower since the thread started. Remember: Tuesday is Soylent Green Day! SGIP.

Where is Yun? I vote for Dr. Housing Bubble. And this guy..... ....http://farm3.static.flickr.com/2460/3605053258_eed7637911_o.jpg.... The file is too big to post here, but cut paste the link for 'tard goodness. (posted below... Thx no_vaseline) My .02 Tuesday is...

Jumpcut - 5 days or so for appraisals. Yes, if the value is low on a conventional we run an Automated Value Model (AVM) to see if this is really far off, and if so a second appraisal can be ordered. Once a lender gets a bad taste in their mouth from a low value appraisal, getting turned around...

Yes, but the 10yr T hit 4.01% and has since fallen. We had one rate sheet today, plus two improvements since. This isn't a trend, but rates will begin to moderate back a bit from the current highs. My .02c Soylent Green Is People

Yes. Believe it or not there are many high priced, highly leveraged properties financed with FHA loans. Almost anything financed with 10% down or less is FHA today. As for statistics, you'd have to go through DataQuick or other resources. As a side note, I'm curious what the delinquency...

FHA 100% Gift A-OK Conforming - 80.01% loan to value or higher - 5% of down must come from borrowers own seasoned funds (60 days) Conforming 80.0% Loan to value or lower - 100% gift A-OK Tuesday is Soylent Green Day. My 02c Soylent Green Is People.

True portfolio jumbo rates move as much as traditional FNMA/FHLMC/HUD loans. They may have different mechanisms in arriving at their price and rate, but they move in lock step with traded MBS loans. Tuesday is Soylent Green Day. My 02c Soylent Green Is People.

A rising tide lifts all boats. Jumbo and conforming rates have soared. Soylent Green - a metaphor for our times. global peril, systemic collapse, corrupt government aligned with powerful business interest, the lower economic class feeding on itself while the unaccountable rich skim off the...

SOL.... unless you have any scrap of paper or email stating that your rate was protected and that extensions were possible. If you do, I'd start lawyering up. The big problem is that you went through a non-accountable broker versus a more responsible (gasp, choke...) direct lender. DL's...

No one really has structured one of these successfully yet, although there are a few in BofA's pipeline right now. Essentially they provide a 2nd TD that is paid off once you file your return. Very risky and something I tell people to avoid. My 02c Soylent Green Is People