March 27th, 2013 10:12 AM by Eric Fang
The RE market is very hot in the bay area. It's up 20% to 30%for most of the areas. And it's so hard to get the houses.That's why I normally don't quote the rates until your offer accepted.
In Sacramento, the house pricing go up too. I gota few purchase appraisals recently. And the borrowersadd around 30k to the listing price, and to our surprises,the appraisal value is still ok. But for some small communitieswith limited comps, the value is still low because of not enough sales.
The bond level is close to the other end of 1.82 to 2.05,so I started locking some of the loans unless the borrowersinsisted to wait.
ARM rate is still very attractive.