Mortgage Blog

My two week vacation to China almost over.
Really enjoyed the trip here.

I am sorry for those who I missed the phone
calls and I did not call back. I only replied
to the emails.

For the past week, it's a very good week for the
loans though I am on vacation. Two purchase loans
got signed and will be closed coming Monday and
Tuesday. A few 5/1ARM loans closed with very good
rates.

Those ARM rates were at the history lows. Will we
see lower rates. We don't know. But if the following
is true, then we should.

1)Do we have a chance for lower fixed rates?
Personally I think we will see the rates 0.125%
to 0.25% lower than the current levels.

2)Will the lender's rotate their portfolio? May not.
Some lenders have very good ARM rates. But not all
the lenders. It's just the interests from some
special investors.

3)But if 1)hold true. i.e if we have lower fixed
rates, we should see lower ARM rates.
But even the ARM rates at the current level
is good enough. Is not it?

Have a good weekend. Glad to work with you
guys again. I am back to USA Tuesday morning.