Mortgage Blog

I know most people are very nervous about the market, even
some loan originators. And I did get some phone calls from
the borrowers about the concern of the recent mortgage rates.

First, I still think the mortgage rate will come down at a very
reasonable level to allow most people to get refinanced, especially
those people Obama Adiministration to help. Without the low
interest rate, Obama's Loan Modification and Refinance plan
is useless.

I would encourage everyone to take advantage of the new opportunity
of low rates to get the loan locked. For high balance loan,
any rate below 5.5% is a good rate; For 417k conforming, any 4.875% to
5% rate is a good rate.

We will see the rates after the market stablize.