Interest Rates

[awgee_IHB]

It is my guess that the CDS market will have a greater effect on free market interest rates than any other factor.

Tuesday

 

[WestparkRenter_IHB]

Punch in actual values for the loan. I used $600,000.00 home value with a $500,000.00 loan amount on a purchase loan

Those are true jumbo rates. Wells doesn't ask for the county, just puts the disclaimer about maybe having lower rates under $729K:

I did $700K loan on $1M purchase

Wells Fargo mortgage rate has always been high. I remember getting a quote from them years ago and was so shocked.

 

[ipoplaya_IHB]

Punch in actual values for the loan. I used $600,000.00 home value with a $500,000.00 loan amount on a purchase loan

Those are true jumbo rates. Wells doesn't ask for the county, just puts the disclaimer about maybe having lower rates under $729K:

I did $700K loan on $1M purchase

Wells Fargo mortgage rate has always been high. I remember getting a quote from them years ago and was so shocked.

True. I often quoted them but never borrowed. I think their more conservative lending practices have kept them out of trouble Wamu/Wachovia kind of trouble.

 

[morekaos_IHB]

I was told that WFC had avoided the fate of WM, DSL and WB because their premier product over the last 5 years or so was a 10/20 ARM. Apparently most of the loans they wrote will not change to a ARM for another 5-7 years. Thus few of their mortgages have gone belly up and probably will never become a problem to them.