March 26th, 2011 5:55 PM by Eric Fang
My two week vacation to China almost over.Really enjoyed the trip here.
I am sorry for those who I missed the phonecalls and I did not call back. I only repliedto the emails.
For the past week, it's a very good week for theloans though I am on vacation. Two purchase loansgot signed and will be closed coming Monday and Tuesday. A few 5/1ARM loans closed with very good rates.
Those ARM rates were at the history lows. Will we see lower rates. We don't know. But if the followingis true, then we should.
1)Do we have a chance for lower fixed rates?Personally I think we will see the rates 0.125%to 0.25% lower than the current levels.
2)Will the lender's rotate their portfolio? May not.Some lenders have very good ARM rates. But not all the lenders. It's just the interests from some special investors.
3)But if 1)hold true. i.e if we have lower fixedrates, we should see lower ARM rates.But even the ARM rates at the current level is good enough. Is not it?
Have a good weekend. Glad to work with you guys again. I am back to USA Tuesday morning.