September 6th, 2017 12:52 PM by Eric Fang
For high balance confirming loan, 5/1 ARM is 0.125% better to 3.125%; 7/1 ARM is 0.125% lower to 3.25%. I am lucky to locked two loans for 30 yr fixed 3.625%; one loan for 5/1 ARM 2.875% with $350k loan balance. And one $515k rental property refi with 7/1 ARM 3.625% rate. All the rates are not bad.
But the purchase rate is very good. I just quoted 5/1 ARM 2.75% to 2.875% Jumbo loan;
7/1 ARM 2.875% for 7/1 ARM. Those are pretty good rates, and there are no closing cost for those loans. But the LTV was good for those loans.