Mortgage Blog

First, let's talk about the interest Rate. It might go up after Summer.

History might repeat itself. If we compare this year's
interest rate trend, it's very similar to last year's
except the ARM went lower low this year. And as I
explained a few weeks back, ARM rates hit the bottom.

What's the trend of the fixed rates? 30 yr fixed might
go to 4.25%(already at the neighborhood of 4.375%);
15 yr fixed 3.5% to 3.625%. All rates based on 400k
loan.

But the rate might go up after that. Very similar to
last year's trend. Just take the opportunity to get
the low rate as you can and then wait for the best.

For the mortgage industry, the wholesale market share is only
6.9% last quarter. But the brokers at California are ok.

There are so many challenges for the past a few years.
First, the banks failed. Amtrust & Taylor Bean closed
the doors in 2008 caused us to re-submiit some of the
loans; some big banks exit the wholesale channels, like
HSBC, Bank of America and Chase; then lots of regulation
changes, HVCC for appraisals, new Reg Z of GFE,
and now the most recent loan originator compensation
changes. Though changes make the loan origination
harder, but the best loan originators will always survive.

I go to the bookstore every weekend. This is one
of my hobbies other than playing the bridge(one hour
per day). In Seth Gordon's Linchpin, he talked about
how to be a "indispenable" person in this change
society. Seems like, not only mortgage industry endure
the changes, it happens with all industries.

And let's try to be the linchpins in any organizations.