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View Full Version : Arizona mortgage what kind of deals on a 30 year fixed today..



Classic Daycruiser
09-18-2007, 10:31 AM
I'm just wondering what kind of deals are out there today? Lets say 40% down on a $500,000 home.
Should I wait?:idea: :idea: :idea:

reDECKulous
09-18-2007, 10:36 AM
Assuming your credit is good, you are looking around 6% par.

essexjet
09-18-2007, 10:39 AM
I'm just wondering what kind of deals are out there today? Lets say 40% down on a $500,000 home.
Should I wait?:idea: :idea: :idea:
No. They Feds just cut the rate by a half causing a huge rally on the stock market in return dropping the bonds. If you were looking to put 40% down, that makes you a good candidate for Fannie Mae. With the bonds going down we might see rates go up a little.

Classic Daycruiser
09-18-2007, 10:40 AM
If I could see 6% (800+ score), and no costs/no points, I might be interested. Step right up with your offers. I'll check my PM's tonight. (Northeast Phoenix area):)

Classic Daycruiser
09-18-2007, 10:42 AM
No. They Feds just cut the rate by a half causing a huge rally on the stock market in return dropping the bonds. If you were looking to put 40% down, that makes you a good candidate for Fannie Mae. With the bonds going down we might see rates go up a little.
My guess that ralley is short live'd.

Big Inch
09-18-2007, 10:45 AM
Conforming rates are great right now. I locked in a 5.875 30 year fixed for a customer about a week ago. Email me if you want an exact quote edgar@mtgmaker.com.

totenhosen
09-18-2007, 11:47 AM
Conforming rates are great right now. I locked in a 5.875 30 year fixed for a customer about a week ago. Email me if you want an exact quote edgar@mtgmaker.com.
How many points are you charging for that? Considering Par pricing is in the low 6's where are you making your money?

Big Inch
09-18-2007, 12:36 PM
How many points are you charging for that? Considering Par pricing is in the low 6's where are you making your money?
Locked it on a day that the bond was in the 4.3's and at 5.875 I was making a small rebate. What I charged on top of that is not something I feel should be discussed but know that I am not giving loans away and undercutting everyone nor am I gouging my customers. I try to make a fair commission on every loan. In my experience it is not conducive to repeat business to try and make a killing off anyone.

totenhosen
09-18-2007, 12:54 PM
Locked it on a day that the bond was in the 4.3's and at 5.875 I was making a small rebate. What I charged on top of that is not something I feel should be discussed but know that I am not giving loans away and undercutting everyone nor am I gouging my customers. I try to make a fair commission on every loan. In my experience it is not conducive to repeat business to try and make a killing off anyone.
You are not making apples to apples comparision. I could make the comment that I could lock-in someone today at 5.5%. What I'm not disclosing perhaps is that he is being charged points to do it.
What about the other variables like fixed rate, ARM, etc.
had you come on here and said my Par price today for a 30 year fixed, full doc is 6% you would have come across as more honest.

Big Inch
09-18-2007, 01:16 PM
You are not making apples to apples comparision. I could make the comment that I could lock-in someone today at 5.5%. What I'm not disclosing perhaps is that he is being charged points to do it.
What about the other variables like fixed rate, ARM, etc.
had you come on here and said my Par price today for a 30 year fixed, full doc is 6% you would have come across as more honest.
I'm sorry but I was not trying to make a comparison. I was simply trying answer the original question. He asked what types of rates were available on 30 year fixed loans. I posted what I had recently acquired for one of my customers on a 30 year fixed rate loan which I believe is a fair comparison. I do not think that it would be considered professional or in anyone's best interest to reveal exactly what was being charged but I can tell you that it was viewed as fair by myself and my customer. Obviously with the limited information he posted it is impossible for anyone to determine what an accurate par rate would be which is why I left my email address.

cdog
09-18-2007, 01:39 PM
Conforming rates are great right now. I locked in a 5.875 30 year fixed for a customer about a week ago. Email me if you want an exact quote edgar@mtgmaker.com.
Watch out! For Reg Z violation.:eek:

nice and easy
09-18-2007, 01:46 PM
Chris, you need to wait until the dust settles. I will email you thurs.
Ron B.