Mortgage Blog

Rate higgest level since 05/25/2011

May 15th, 2018 6:05 PM by Eric Fang

The bonds closed at 3.129 on 05/25/2011. And 30 yr fixed rate was indeed around 4.5% during that period of time. But the story was different then. The ARM rate was very low around 2011-2013. In May 2011, ARM rate around 2.5%(conforming loan), so even though the 30 yr fixed rate was high, borrowers are taking ARM loans, but now 5/1 ARM rate is around 3.875% to 4%. Totally different scenarios.

Some industry news.
1)Lenders for the solar systems will make more money because of the new requirement from state of California for the solar of the new homes.
2)Though interest rate is higher, builder confidence level highest during the last 4 months
3)Atlanta home price up, listing down
4)Houston area home price hits the record level.

More news tomorrow

Posted in:General
Posted by Eric Fang on May 15th, 2018 6:05 PM



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