Orlando Mortgage Blog

This is just a fast reminder to my Rate Watch and recent inquiry list of customers to be certain to keep your eye on what’s going on in the market folks. We’ve had a brief respite in the last couple weeks keeping the 30 year in the 4.75% to 4.875% range, depending loan specifics, after it had broken through to as high as 5.25% for a while there. I’ve been hoping to see a little improvement, but lenders have been pricing off a 4.5% coupon of late and there hasn’t been any room to bust through the basement. But there have been daily opportunities that just haven’t kicked it through the barrier.

Couple things to think about on rates. The more improvement in market news the higher they will tend to move and when the Feds STOP buying treasuries in June as is currently scheduled, expect rates to bump significantly after the only source keeping rates down pulls the plug. One more thing everybody. The way originators get paid to do a loan will change thanks to Fed tinkering effective 4/1/2011 and no one really knows how lenders will be pricing the business until then. It’s safe to assume pricing will be in their favor and you’ll have fewer pricing options for an almost certainty. So if you are near making a decision…don’t procrastinate yourself out of what may well be the last of these historic rates on a refinance in our lifetime. Guessing wrong or ill timing the move to refinance can definitely mean thousands in extra interest costs if you get stuck with your higher rate. It’s the weekend and what better time to get it out of the way on line at www.OrlandoMortgageMasters.com .

All I can do is to try to get your attention every once in awhile. I’m here if you need me. Please don't wait too long...