Mortgage Blog

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 got
a few purchase appraisals recently. And the borrowers
add around 30k to the listing price, and to our surprises,
the appraisal value is still ok. But for some small communities
with 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 borrowers
insisted to wait.

ARM rate is still very attractive.