Comments on: Mortgage Rates on a Frantic Friday http://raincityguide.com/2008/10/10/mortgage-rates-on-a-frantic-friday/ Seattle's Leading Resource for Real Estate Information Sat, 21 Nov 2009 06:01:18 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Rhonda Porter http://raincityguide.com/2008/10/10/mortgage-rates-on-a-frantic-friday/#comment-326682 Rhonda Porter Wed, 15 Oct 2008 15:16:07 +0000 http://raincityguide.com/?p=2655#comment-326682 30 Year fixed is 6.625% this morning priced with 1 point (apr 6.894). <strong>Rates are up 0.375%</strong> in just a few days. This quote is based on all the criteria I have mentioned above for rate quotes: Loan amount $400k w/80% LTV purchase (lower loan amts may not qualify for the rate). 720-739 mid credit scores (higher or lower credit scores will produce a different rate) 45 day lock (closing 30-40 days) Full doc loan with taxes and insurance included in payment (paying your own taxes and insurance cost 0.25%) As always, I'm sharing live rate quotes on my twitter page. If you visit www.twitter.com/mortgageporter you'll see something like this (for the above quote) when ever I'm quoting a rate, preparing a good faith estimate or locking in a rate: <blockquote>Latest: Quoting 6.625% for 30 yr $400k loan amt w/20% down and 720-739 credit. (apr 6.894) priced with 1 pt. This is up 0.25% in rate from yesterday8 minutes ago </blockquote> You can subscribe (or follow) my rate quotes to at least have an idea of what direction the market is trending. The quotes will provide basic credit score and ltv info as that impacts pricing. 30 Year fixed is 6.625% this morning priced with 1 point (apr 6.894). Rates are up 0.375% in just a few days. This quote is based on all the criteria I have mentioned above for rate quotes:

Loan amount $400k w/80% LTV purchase (lower loan amts may not qualify for the rate).
720-739 mid credit scores (higher or lower credit scores will produce a different rate)
45 day lock (closing 30-40 days)
Full doc loan with taxes and insurance included in payment (paying your own taxes and insurance cost 0.25%)

As always, I’m sharing live rate quotes on my twitter page. If you visit http://www.twitter.com/mortgageporter you’ll see something like this (for the above quote) when ever I’m quoting a rate, preparing a good faith estimate or locking in a rate:

Latest: Quoting 6.625% for 30 yr $400k loan amt w/20% down and 720-739 credit. (apr 6.894) priced with 1 pt. This is up 0.25% in rate from yesterday8 minutes ago

You can subscribe (or follow) my rate quotes to at least have an idea of what direction the market is trending. The quotes will provide basic credit score and ltv info as that impacts pricing.

]]> By: Rhonda Porter http://raincityguide.com/2008/10/10/mortgage-rates-on-a-frantic-friday/#comment-326649 Rhonda Porter Tue, 14 Oct 2008 23:19:43 +0000 http://raincityguide.com/?p=2655#comment-326649 This slipped by me last week: Citi is reducing their wholesale division. This is from one of their bullitens: <blockquote>"Released today was the reduction of the Citi Wholesale channel. Citi had annouced earlier the plans to consolidate and restructure the wholesale channels due to acquistions and duplication, today they annouced this reduction. They did not close this channel but did reduce the A/E staff and the seller base consolidating operations. "</blockquote> From what I understand, they're eliminating their broker relations and are staying with correspondent lenders (we still work with Citi and are not impacted <em>yet</em>) reducing their client base from 9,000 to 1,000. This slipped by me last week: Citi is reducing their wholesale division. This is from one of their bullitens:

“Released today was the reduction of the Citi Wholesale channel. Citi had annouced earlier the plans to consolidate and restructure the wholesale channels due to acquistions and duplication, today they annouced this reduction. They did not close this channel but did reduce the A/E staff and the seller base consolidating operations. “

From what I understand, they’re eliminating their broker relations and are staying with correspondent lenders (we still work with Citi and are not impacted yet) reducing their client base from 9,000 to 1,000.

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