Mortgage Blog

Market is waiting for better 30 yr fixed rates

March 4th, 2010 1:46 PM by Eric Fang

It's so hard to get better 30 yr fixed rates, especially the high-balance loans. Since all the other program are at history low, we expect the 30 yr fixed rates should follow.

Right now, only LTV less than 60% high-balance loans can get 5% rate; but 15 yr fixed rates are so good. It is 4.375% now.

Will keep you posted for my reaserach. My prediction is that the rate may go lower. The Fed know something we don't know. First, the Obama HARP plan extended for a year; Then BOFA is hiring more staff. NOt for Refi, but for REO. They expect the REO volume is going ... higher. And the rimar said that Obama will ban the foreclosure. Wow. Anyway, you can sense how bad teh situation is.

Anyway, let's wait and see how the market goes. And I will be on vacation soon.

Posted in:General
Posted by Eric Fang on March 4th, 2010 1:46 PM



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