fed rate cuts....

[Outnumbered]

Just did two this week, one with Countrywide and the other with USAA. Pretty easy and very fast turn times by both. Surpised the shit out me

Were the first and second with the same lender? Also, if the CLTV was strong that would make it easier.

 

[essexjet]

Give you guys an update on Fannie Mae:

Effective June 1st Fannie Mae will be doing conventional loans up to 97% loan to value and will be eliminating the declining market value 5% hit on LTV's.

http://www.fanniemae.com/newsreleases/2008/4370.jhtml;jsessionid=HUTK1KR05OO1BJ2FQSHSFGI?p=Media&s=News+Releases

 

[Outnumbered]

Give you guys an update on Fannie Mae:

Effective June 1st Fannie Mae will be doing conventional loans up to 97% loan to value and will be eliminating the declining market value 5% hit on LTV's.

http://www.fanniemae.com/newsreleases/2008/4370.jhtml;jsessionid=HUTK1KR05OO1BJ2FQSHSFGI?p=Media&s=News+Releases

Good news. Thanks

 

[EmpirE231]

Bump

any updates on current rates? anything going on with them?

 

[LhcBrad]

Bump

any updates on current rates? anything going on with them?

I was quoted at 6% for 30 year fixed on $220,000 loan FHA

 

[EmpirE231]

I was quoted at 6% for 30 year fixed on $220,000 loan FHA

are rates different in AZ? I had a couple people say they got approved @ 5.125:hmm

 

[LhcBrad]

are rates different in AZ? I had a couple people say they got approved @ 5.125:hmm

I think they are different everywhere it depends on the bank and what the current rate is going for it changes all the time. I would think that 5.125 is a really good rate.
(I am no expert though) There are a few Bank peeps here that know a whole lot more then I do.

 

[WATERDOG]

Saw a Ditech/GMAC commercial this AM for 5.875% on 30 yr. note.

 

[Wmc]

Rates are kind of on the upswing again today. I lend in AZ & CA and our rates are the same for both states. 5.125 is very agressive probably an arm product, definitely not a 30 yr.

 

[essexjet]

Rates are kind of on the upswing again today. I lend in AZ & CA and our rates are the same for both states. 5.125 is very agressive probably an arm product, definitely not a 30 yr.

I agree 100% that 5.125 is not there on a 30 year fix.

Rates are going up today due to weakness in the bond market and strong then expected real estate news with sales up 6%.

Today we are at 6% on 30 year fixed rates.