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Interest Rate went up slightly yesterday
November 21st, 2013 9:07 AM

The rate went up after the Fed Minutes. So 30 yr
fixed rate is 4.25%(417k) again for no closing cost.
We did a good job this month(Nov) by closing more
than 10 loans at the bleak season. Still much more
than most of the other loan originators.

My strategy and the opinion about the rates was
right. I locked a few loans with 30 yr fixed rate
of 4%; 15 yr fixed rate 3.125%. A few cash-out rental
refinance with the rate 4.5% to 4.75% depends on the
loan amount. And also thanks for the business of the
purchase loans. We can help our clients to build
their portfolio of accumulating more rentals, when
it was harder for them to qualify. And the other piece
of good news is that I issued 13 pre-approval letters
for my clients for the purchase, most of them are
rentals.

Got another loan applictaion yesterday for the rate 2.625%
for 5/1ARM 417k loan. Though the rate went up yesterday,
I am confident to get the rate for my clients so we started
the application today, and will lock when the rate is available.


Posted in:General
Posted by Eric Fang on November 21st, 2013 9:07 AMPost a Comment

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