December 16th, 2010 2:52 PM by Eric Fang
Q: I heard that the rates are going up and I was planning to refi my primary home for 700k. What are the current rates for it?
Last time we had to wait till Jan for refi so I guess we can get started now if the rates are lower than what I have now.
Did I miss the boat?
A: One good news about ARM is that the 1 Yr libor index is stillvery low. It's only 0.785% today. We will be able to get the ratesaroudn 3.375% to 3.5%, especially if the impound account is ok.
And the rate is getting better late this afternoon. Hopefully this is teh start of the new trend. I heard that Bill Gross of PIMCO put 17 Million of his own money to purchase the bond. This is a very positive sign. When Bill Gross talks/acts, the market will listen.