Mortgage Blog

Even though the rate will go nowhere, I still
recommend to lock and do the refi asap.

The reason is the value. I got a few value
problems for the loans. One is for Palo Alto,
it's 100k lower than expected; naother is in
Sacramento, around 30k lower; one is in
West Sacramento, 20k lower. We could do the
refis if we started a little bit ealier, for
some loans.

I talked one agent yesterday, she asked me why
I still quoted 2.625% for 5/1ARM yesterday.
I told her that I can still do it with impound
and lock for 21 days. And even though I submitted
two days back, I should be able to signoff next
week. The lenders are not busy now.