April 12th, 2013 11:22 AM by Eric Fang
The pricing changed a little bit recently, whichmakes the rental refi easier than expected.
For the last week, I locked a few 30 yr fixed 3.625% to 3.75% rate. And stating this week, the ARMrental rate is getting better now. And I locked oneloan with rate around 3.00% for 5/1 ARM; 3.125% for7/1 ARM.
That's why I don't say it's impossible that we can get the rate of "x.x". Instead, I would say it's "unlikely"we can get that rate. And when the rate has promotion,or the investors have strong demand, everything is possible.
JPM announced increase the quarterly dividend from 30cto 38c; and plans for more stock buy back. But the loanactivity was not that strong. That's normal when the interest rate higher than last year. But we maysee the lenders are "willing" to lower the profit margin to get lower rates. But it might not be good for their balancedsheet.