Mortgage Blog

The pricing changed a little bit recently, which
makes the rental refi easier than expected.

For the last week, I locked a few 30 yr fixed
3.625% to 3.75% rate. And stating this week, the ARM
rental rate is getting better now. And I locked one
loan with rate around 3.00% for 5/1 ARM; 3.125% for
7/1 ARM.

That's why I don't say it's impossible that we can get
the rate of "x.x". Instead, I would say it's "unlikely"
we can get that rate. And when the rate has promotion,
or the investors have strong demand, everything is possible.

JPM announced increase the quarterly dividend from 30c
to 38c; and plans for more stock buy back. But the loan
activity was not that strong. That's normal when the
interest rate higher than last year. But we may
see the lenders are "willing" to lower the profit margin
to get lower rates. But it might not be good for their balanced
sheet.