Mortgage Blog

Rate updates -- Sep 15th, 2015

September 15th, 2015 3:39 PM by Eric Fang

The rate is up a little bit today. It makes sense since it was still traded within the range.
The market is awaiting the Fed's decision this week. So the rate should not go anywhere prior to that.

While the rate was low, I locked the rate for two loans yesterday. One was for 5/1 ARM Jumbo, one for 7/1 ARM jumbo, both with pretty good rates.

In the previous blogs, we talked about to cash-out high balance loans as Jumbo so that we can get better rates for ARM programs. And actually it also hold true for the rental jumbo loans. But we do not have many rental property with a huge(jumbo) loan.

When the business slowing(and it will be expected to be slow for sometime), it's good to read some books again. I just finished One Extra Mile yesterday,  and start reading The Perfect Mile today. Though the subject looks like similar, they are totally different. One Extra Mile talked about the lady whose name is Pam Reed for her career as an ultra runner. And the perfect mile was about three young man in 1950s from different countries tried their best to run the mile under 4 minutes. It is so amazing that we can learn so much stuff other than running in those books.
Posted in:General
Posted by Eric Fang on September 15th, 2015 3:39 PM



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