Mortgage Blog

There is only one lender increased the rate after 2pm PCT
yesterday. They may know something we did not know and indeed
the rate is up a little bit higher today.

Though the trend of the interest rate will inch lower, but the
short term rate may go higher. The lenders did not have the
pipeline problems until recently when the interest rate
hits record low. But still, we did not see the volume of the
last year when the lenders offered "free rate extension" for
all loans because of the volume.

I did subscribe a bond trade magazine. And though there were
not accurate, but they did not mention that the short term rate
trend may go a little bit higher because the bonds were over-bought.
They analyzed the bonds market by the technical analyze.

My recommendation is still locking the rate at the current level and
refi a few months later if the rate is lower.

One thing needs to be noticed is that the financial reform related
to the mortgage industry. We are required to pass both State and National
license test this year; and there are more reforms regarding YSP
and other related issues in the coming months. Obama did need
A New Model for the two GSEs.I will keep you updated on those news on this month newsltter.
Sorry for not being able to delivery more updates recently.
I am trying my best to close all the loans and help my clients to
get the best rates(My volume is about 60%-70% higher than last year,
and I am surprised that I can stillhandle that volume).