Mortgage Blog

I got a very rude comments yesterday on my blog when I said that I think the rate will stay low. For the blog readers, you can express your opinion or leave a real email address if you disagree. But do not be rude since we are all adults here. And normally I do not quarrel or argue with you on my blog. Nobody is right about anything, but anyone can express his/her own opinion. And if you guys read my blogs before, I have very good predicts in the year 2008-2010.

Anyway, the mortgage rates are at the 2015 high now. But I still think it is within the trading range and the MBS oversold. It should be rebounded sometime soon. I could be wrong, but that's my opinion.

Because of the selloff of the MBS, the fixed rates, ARM rates went up recently. But ARM rate is up just 0.125%. So the rates are still good for the refinance.

I am working with a clients for his refinance. But I think I need to fix the credit score first. I found that some clients might have the credit scores affected by the medical bills, or some late payments. And we need to try. One borrower even successfully asked the credit card company withdraw the late payment reported to the credit bureaus. We will wait and see how much improvement we can have. We will reorder the credit reports in the next a few weeks.

The service from the mortgage brokers are getting worse. One reason is that the lenders are requesting all the supporting documents like FBI. And they also delayed the closing. One of my friends was thinking about "quitting". But I still like my job. And I told him that he needs to be patient, the system can work its own way out. Anyway, my business volume still about twice of last year.

And one more thing, I started speed workout for 5k Tuesday; and  3 repeats of 1 Mile on Thursday. The average pace was 7 minutes per mile. Still not bad since I am still in the recovery after the Vancouver marathon.
  
Have a good weekend.