My New Blog

Participated in a discussion on Financial Advisors.  Topic was selection of Financial Advisors and the proposition was selection based on Financial Advisors personal wealth.  "Why would you pick a Financial Advisor that wasn't rich?"  Well there are reasons in certain cases but for the most part I would subscribe to that theory ... kind of a *duh* ... "Hey, you're a mortgage broker, tell us what the rate is on your two mortgages?"

Well I can't promise to get you these rates and they are adjustable.  My current rate on my Oakland SFR is 2.625% and the current rate on my Pacific Heights condo is 3.00%  (Mortgage statements available for verification of claim) Okay, there you go, in the interests of "transparency." 

Current rates are on the high side based on rates a month ago.  Which makes it the perfect time to apply for a refinance or purchase.  The lenders are not slammed the way they were a month ago.  They have time to process and approve your file which puts you in line of lock your rates when they drop back down again.  The sheer volume in new applications when the rates are lower tends to overwhelm the processing, approval and accuracy of the lenders which you don't want to have to encounter.  It's not pretty and it's very frustrating for all concerned.  If you have been thinking about it, if you rate is higher than 5.375% then you should at least consider refinancing that before the rates go up permanently.

Happy New Year to all and to all, lower rates !!!