September 7th, 2009 9:04 PM by Eric Fang
I hope everyone enjoyed the Labor Day weekend. I did. At least I liked the two parties I had on Saturdayand Sunday with my friends.
Since the summer is over, we will focus more on the mortgage rates.
First, I have a twitter account with username efloans.I will have more daily rates updated there.
Second, as we disclussed a few times that we should havebetter rates in Oct. Actually we already had some good rateslast week, like 4.5% for 15yr fixed; 4.875% for 30 yr fixed(all conforming <=417k). In Oct, we will expect high-balancerates around 5% to 5.125% soon. And also more favorable ratesfor those loans with LTV over 80% for Fannie Mae and Freddie Macloans.
Third, there are more regulation changes. We will have new GFE formready Jan 2010; and more hud reforms and other topics more focused on mortgage brokers. I will keep you focused in the near future.