Mortgage Blog

Fixed to ARM rates?

May 29th, 2019 12:39 PM by Eric Fang

I have only a few borrowers who insisted on the fixed interest rates. Eve though I told them that the difference is almost 1% now. And I explained further that it does not make any sense to have fixed 30 yr fixed rate when the interest rate is going lower, and lower. It simply does not make any sense. I mean, especially for the Jumbo loans.

Anyway, I called my friend yesterday and told her that I would refer all my 30 yr fixed clients to her. Basically for two reasons, 1)My jumbo 30 yr fixed is not good. Or most of the other lenders rate not good either 2)It is a little bit against my belief, that the interest rate is starting lower, and then lower.

I am happy running again, especially with my wife. Yes, we are running together in the morning, she will train for the San Francisco Half Marathon, and I for SF Marathon. The finish time is not important. The whole process is.

And we decided, if the training goes well, we will run Paris Marathon in 2021. That would be my 30ish marathon, and her 2nd one. It would be fun. It does not matter whether we will finish it around 5 hours or more than 5 hours. We will feel happy even for the 26.2 miles on the street of Paris.

Then I will have to work hard again, to finish more loans. But my business already about 400% of the volume of last year.  But running is still more important than the mortgage loans.

And I think I might have the best Rental rates on the market. I got a lot of loans, referrals. Can not believe that rental rate can be as low as 3.5% to 3.625%(or 3.875% for small loans), APR is still 4.37% though. But ARM Apr is higher anyway.
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Posted by Eric Fang on May 29th, 2019 12:39 PM



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