Mortgage Blog

It's very funny that in every election year's debate,
one or both candidates will criticize China
for stealing usa jobs.  And everytime, when the rates
going up, there are more people wants to lock the
rate and refinance the mortgage. This is not right.
We should refinance when the rate is low, not high.

For a few reasons, I still think the rate will
be back to the low level. The us job market is still
not that "great", the bank's profit margin is high,
and the lender could lower their fees for the G-fees
(It's very stupid that the Fannie Mae charges 0.1%
of the loan amount for the G-fee, gurantee fee,
but some lender lenders charges 0.625% for this 0.1%).
The rate should be back to lower.

For the past 10 years, as a loan originator, though
I can analyze the rate trend, I tried not to timing
the market. The best thing we can have is to do the
refi smoothly and peacefully. We have so much more
important things to do than the refiance.

And usually, when the rate is high, I will accept
applications, and wait for the lower rates. And
I will do the same thing this time(already have 20-30
application now).

By the way, this is the best season for hiking,
running. And have a fun, pleasant weekend.