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Mortgage Rate Update

Tamalewagon

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An excerpt from the MBS Highway (Mortgage News)

Mortgage Bonds ended the day just beneath overhead resistance at 103.516, which was the high set on March 9. Intraday, Bonds got as high as 103.813, which is a new all-time high. The 10-year ended the day at .86% and is a very wide range between support at .42% and overhead resistance formed by 10.87% and the 25-day moving average. Tomorrow's news on a stimulus deal will likely cause some volatility in the markets. Continue floating. Do not lock today.

Let's see what happens tomorrow then.
 

Tamalewagon

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Rates are beginning to subside. We had a very short window of opportunity to lock conforming loan amounts in the high 2 to low 3% range this morning. The window only lasted 26 minutes and then pricing climbed again. This seems like it is becoming a daily habit for the lenders. Please note, we are watching the pricing very carefully for all applicants and will advise as soon as pricing is advantageous for your specific scenario.

HUMP DAY's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 

Tamalewagon

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Thursday's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 

Tamalewagon

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Happy Cabin Fever Friday. Bloody Mary's all around. Rates are much better but there is still room for improvement. HOLD for now. This might change if/when the House passes the relief bill but no guarantee.

Friday's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 

LB247XS

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Hey Scott thank you for getting back to us .we are highly excited to be working with you on our REFI. it's FINALLY great to hopefully have something positive come to me and the family.


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Tamalewagon

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Monday's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 

Tamalewagon

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Information on forbearance. Get the facts before you start skipping your mortgage payments. You could be doing serious damage to your credit and credit scores. INFO
 

Tamalewagon

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Tuesday's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 

Wedgy

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Hi Scott,

Curious as to your thoughts on this article. Is this accurate? Are you seeing this happening? When the Fed did this, I wondered why? Are we in danger of losing control of our Capital Markets to the Fed? I am dismayed at the Debt to GDP ratio threshold we have already crossed. I don't underestimate the level of stupidity that The Powers that Be are capable of, But. Still. I smell a Rat. Thanks.

Bill Roe

 

pronstar

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Hi Scott,

Curious as to your thoughts on this article. Is this accurate? Are you seeing this happening? When the Fed did this, I wondered why? Are we in danger of losing control of our Capital Markets to the Fed? I am dismayed at the Debt to GDP ratio threshold we have already crossed. I don't underestimate the level of stupidity that The Powers that Be are capable of, But. Still. I smell a Rat. Thanks.

Bill Roe

Trump knows real estate and I don’t think he will sit idly by and let the industry get destroyed.

Let’s hope our president/realtor in chief, since he’s now effectively (and wrongly) our monetary chief, is listening to the industry, as the article says they’ve voiced their concerns.

Would love to hear Scott’s take as well.

I know my mortgage/title/realtors have been slammed thru last week, but I haven’t communicated with much them this week.


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pronstar

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Wedge here’s a good counterpoint article, from First American




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WhatExit?

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I am scheduled to sign refi papers this Friday - my guy here in AZ got us done in 2 weeks! (not typical) Very fast closing - didn't require an appraisal - 3.5% 30 year (we'll pre-pay to reduce it to 18-20 years but have flexibility with a lower monthly payment)
 

Wedgy

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I am scheduled to sign refi papers this Friday - my guy here in AZ got us done in 2 weeks! (not typical) Very fast closing - didn't require an appraisal - 3.5% 30 year (we'll pre-pay to reduce it to 18-20 years but have flexibility with a lower monthly payment)
Well Done! WE! Score. Thanks Guys. Appreciate that Pronstar. I am hopeful that cooler heads will prevail. I reached out earlier to Scott, he replied back promptly, I appreciate his Input, and value all the informed honest opinion and information here on RDP.
 

Tamalewagon

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Forbearance. Good idea? Not if you can still afford your payments. Be cautious, forbearance shown on a credit report has never been favorable for qualifications in the eyes of an underwriter. While it may seem like deferring your loan payments could be a mark against you in the eyes of the credit bureaus, in reality, forbearance does not affect your credit score. It does however, affect your ability to qualify for future loans and other forms of credit, and can lead to getting charged much higher interest rates. In short, in the eyes of an underwriter, this means you cannot make your payments in good faith. It may be harsh especially for those that need the forbearance, but it reality.

92020477_163249221804916_3806609340847002686_n.jpg
 

Tamalewagon

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It is hard for me to speculate where the market is headed in these tumultuous times. My crystal ball is somewhat foggy these days. I can give you this current market update and let you know that loans that are rate and term reductions (no cash out) with loan amounts under $510400 with good credit and 80% LTV or less are seeing rates in the low 3% range and yes, we are locking them. People in need of cash out loans for the same scenario are seeing higher rates and are advised to wait until we see more favorable rates. Conforming high balance loans with balances between $510401 and your county limit are advised to wait until the rates subside. We anticipate rates in these areas to subside in mid April. Don't be in a hurry to get these done. The early bird doesn't necessarily get the worm on these (unless there is a brief window of opportunity), they usually get the shaft. Patience.
 

Tamalewagon

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HUMP DAY's Rate Lock Advisory click HERE

We offer the most aggressive VA, FHA, Conventional and JUMBO pricing for California properties and we close our loans between 14-30 days.

To get your no obligation rate quote for your purchase or refinance, call me today at 866-476-2494 or visit www.WMRLoans.com and click on "Purchase Assistant" or "Refinance Advisor". I will have loan options available to you within 30 minutes.

Scott Wenhe
NMLS 336862
CALBRE 1768632
619-255-3182
scottwenhe@gmail.com
 
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