My New Blog

I did notice at Chase branches they were offering 5.125% at 1 point plus closing costs.  Stopped by the Millbrae Branch today.  Interesting for me because I am at 5.125-5.25% 30 year fixed at NO COST.  No points, no lender's fees, I pay all the the Nonrecurring closing costs.  Of course rates are subject to change without notice BECAUSE we sometimes get multiple rate changes in the same day.  If the Unemployment Report which is released tomorrow, comes in higher than expected mortgage rates will go further down and this week's rates were the best I've seen in over a month. 

There is a Daily Rate Report on my site but as we all know:  NO ONE CAN PREDICT MORTGAGE INTEREST RATES.  There are tendencies and likelihoods.  Often it's a matter of an hour or so to catch the lowest rate so it really behooves you to make sure your loan application is fully approved by the lender. 

Some lenders have 15 day rate locks that are almost a half point better (cost wise) than a 30 day rate lock.  This means, if you were paying points for example, that you would save almost a half a point (1 point is 1 percent of the loan amount) So I try to get all of my clients fully approved so they can get the best possible pricing and every advantage in that regard.  (All explained on my site)

Watch out for the flu bug going around.  I've had a devastating cough since August 10 and the Doctors are still telling me it's just an extremely bad cold and antibiotics won't do any good.  Waking up every night with paroxysms (word of the day, means a "fit of violent actions" like serial coughing) of sleep defeating coughs ... "You know Dr. Adler, I would consider lethal injection at this point ..."

Just trying to make light ...

We have had some success with Loan Modifications and I will be discussing those in upcoming blogs ...

4.750-4.875% 30 year fixed is a no point loan.  5.125% depending upon loan amount may be a "no points, no non-recurring closing costs" (FREE-LOAN) loan ... if you are in the mid-5's or your 5/7 year fixed rate conforming loan is close to "resetting" you should be talking to me about an appointment to fill out paperwork.  This not a sales spiel, this is your mortgage professional telling you to "Act fast before the moment's passed."

Commercial loan rates continue to amaze for those that can still qualify.

I am also doing FHA loans, loan modification consulting (with a national approval rate of 10-15%, what are your chances without professional help?) on a case-by-case basis.  Certain lenders are hopeless but possible legal remedies may apply.  CASE-BY-CASE !!!

Just some reflections and ruminations~off the top of my head~

Now offering FHA loans.  Purchase and refinance.

Great programs for 5+ units~

Loan modifications advising and qualified lawyer referrals.

Mortgage rates were much "weaker" than last week.  The future looks bright.

I thought the rates on Conforming Loans, up $417,000 on Thursday were pretty impressive, Friday was even better.  A 30 Year Fixed for No Points in the high 4's is something anyone who's going to keep the place for 5 years or more and is in the 5's (percentile) should do the math ... or use my site calculators ... Watch out for that flu, it's been close to 5 weeks now with the cough from hell~meds and medical personnel to no avail.

Rates got really low all of a sudden ... this is really good news for you.