420,003
1. With 10 year bond at .7 rates for 30 year should be 2.375 BUT mine government loan houses- Fannie and Freddie and FHA aren't buying that low.
2. Banks cannot hire more people and lay off it takes time to train them and in 3 months investment of training this could be over
3. CEO is accountable to shareholders they don't want to have one loan on the books that they can't sell immediately - they market survey each other hourly - they must make a profit.
If we see 20000 deaths they re-evaluate and drop again.
Numbers games as dark and terrible as that sounds.
Given that people told to quarantine themselves, then
refuse to listen to the good of the whole we might see that number.
Isopropyl alcohol in your car, front door, desk, lunch bag, and a tupperware box with paper towels wet with the solution is good. No hand shaking. Sit on your hands if you must. Wash them with soap often.
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Kathleen Daniels, Prob...
San Jose, CA
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Donald Urschalitz
Jupiter, FL
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Kris Collis, Associate...
East Stroudsburg, PA
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Olga Simoncelli
New Fairfield, CT
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Lyn Sims
Schaumburg, IL
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Bob Crane
Stevens Point, WI
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John Juarez
Fremont, CA
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Candice A. Donofrio
Fort Mohave, AZ
1,242,204
Have 50 lenders to pick from. No worries.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
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Debra Leisek
Homer, AK
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Kris Collis, Associate...
East Stroudsburg, PA
-
Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Bob "RealMan" Timm
Minot, ND
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Pete Xavier
Pacific Palisades, CA
1,506,923
No. If they get too low to where the banks make no money, they simply will not lend. Why lend if you'll only make 1% or less over 30 years with the risk of a default.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
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Kris Collis, Associate...
East Stroudsburg, PA
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Bob Crane
Stevens Point, WI
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John Juarez
Fremont, CA
2,190,182
I have a mortgage broker friend who says her bank is holding refi rates high to control demand. They prefer new buys.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
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Kris Collis, Associate...
East Stroudsburg, PA
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Bob Crane
Stevens Point, WI
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John Juarez
Fremont, CA
921,504
They mortage rates are established by the banks to insure they don't get stuck holding the mortgage. Be aware the PRIME OBJECTIVE of the bank is to sell the morgage. The lower the yield, the less attractive the product.
Regarding the citizen or borrower....THE BANKS SIMPLY DO NOT CARE.
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Kathleen Daniels, Prob...
San Jose, CA
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
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Pete Xavier
Pacific Palisades, CA
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Bob Crane
Stevens Point, WI
1,326,174
You probably saw the same on-line story in REALTOR MAG NEWS that I did, Donald Urschalitz
Lenders compete. They need to have rates that will allow them to get their share of the business. Apparently, there is plenty of business and a shortage of worker bees to handle it. So...rates may be higher from some lenders due to a need to be able to actually perform on the loans they are processing.
It pays to shop around.
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Kathleen Daniels, Prob...
San Jose, CA
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
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Kris Collis, Associate...
East Stroudsburg, PA
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
6,424,873
They could just be uncertain about what our leadership will do next. It is a risk for them to sign up too many mortgages at this low rate when the rates may jump back soon.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
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Kris Collis, Associate...
East Stroudsburg, PA
-
John Juarez
Fremont, CA
-
Bob "RealMan" Timm
Minot, ND
-
Bob Crane
Stevens Point, WI
1,513,143
With the number of sales compared to other years, they would be nuts!
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
John Juarez
Fremont, CA
-
Pete Xavier
Pacific Palisades, CA
-
Bob "RealMan" Timm
Minot, ND
5,258,256
They can cherry pick right now - why not? They're in it to make money!
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
-
Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
Kris Collis, Associate...
East Stroudsburg, PA
902,428
The banks will do whatever works for THEM.
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
1,847,771
The lenders are saying they can't write stufffast enough. I am suspicious.
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
2,073,399
I don't buy into conspiracy theories.
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Kris Collis, Associate...
East Stroudsburg, PA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
John Juarez
Fremont, CA
1,208,838
Not really, historical low rates are flooding the market here
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Annette Lawrence , Pal...
Palm Harbor, FL
-
Donald Urschalitz
Jupiter, FL
-
Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
5,773,261
No, I do not. A
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Gene Mundt, IL/WI Mort...
New Lenox, IL
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Annette Lawrence , Pal...
Palm Harbor, FL
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
225,526
I agree with Caroline Gerardo on this one. 30 year rates should be at 2.375% but they are not. There is a point of no return and we are there. The demand for loans would be more than they can handle at that rate. In 2006-2008, I saw the same thing as rates didn't fall below 3.375%. All they did was increase the pricing. We're seeing the same thing today. We are spoiled by these low rates and have been for a long time. I cringe every time people say "Wow, those rates are high", when they are only in the low 3's. I remember when I was thrilled when I got my first loan and it was in single didets. People should be thrilled now
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Gene Mundt, IL/WI Mort...
New Lenox, IL
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Kathleen Daniels, Prob...
San Jose, CA
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John Juarez
Fremont, CA
5,245,501
As a man who endured very high double digit rates years ago, I think rates are artifically low!
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John Juarez
Fremont, CA
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
1,554,939
Rates are historically low, not sure why you think they’re high?
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John Juarez
Fremont, CA
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Annette Lawrence , Pal...
Palm Harbor, FL
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Debe Maxwell, CRS
Charlotte, NC
1,153,794
Theoretically it could be happening but I wouldn't "believe" it.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
648,425
No.
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Annette Lawrence , Pal...
Palm Harbor, FL
-
John Juarez
Fremont, CA
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Bob "RealMan" Timm
Minot, ND
2,402,654
I have a hard time keeping track of what's going on in my head... I don't need the confusion of mind reading others Donald Urschalitz .
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Annette Lawrence , Pal...
Palm Harbor, FL
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Debe Maxwell, CRS
Charlotte, NC
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Bob Crane
Stevens Point, WI
7,870,977
Yes.
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Annette Lawrence , Pal...
Palm Harbor, FL
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Donald Urschalitz
Jupiter, FL
766,819
3,168,134
of course I do. They have to be able to sell them. They will ease down more, but I understand it.
3,350,589
2,515
In Toronto Canada, our housing pricing has surged. I think to prevent even more population from confining to the GTA, they are keeping mortage rates high, not so much to prevent house ownership, but to try to have more Canadians relocating outside of Ontario and Quebec. 2.89% on a $500,000 condo is a lot more than 2.89% on a $150,000 home outside of the GTA.
2,195,399