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Interest rate will go ...?
December 6th, 2016 1:40 PM
According to my research, It will go up till March. Then it depends on the economic data. Let's wait and see.

I did get a few loan applications, and we are waiting for the rate to lock. Every time when we decided to lock, it will go up a little bit. And I got a few emails from my clients recently, they wanted to lock a good fixed rate if the rate is down again.

Also, I have one client asked me whether I have 3% interest rate for 30 years fixed. I told him that I never had this rate. Maybe he confused himself with the loan programs.

The industry is always behind. Impac decided to layoff some employees in Irvine. I talked to my friend about the news, he told me that Irvine is more diversified now. I remembered that Irvine had two major employers in 2008: UC Irvine and the subprime lenders. And there are more biotech companies, etc. Also some other lenders will follow as well. But if the interest rate goes down again, then they will need more hands and start hiring too. It happened all the time.

I registered another Marathon for 2017: Denver Marathon. So 4 Marathons for sure: Calsbad, Boston, Denver, CIM in Sacramento. The other one might be Amsterdam. But I am not sure yet.

Posted in:General
Posted by Eric Fang on December 6th, 2016 1:40 PMPost a Comment

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